Ledecky, ranked among the best swimmers of all time, is a five-time Olympic gold medallist and 14-time world champion, the most accolades in history for a female swimmer.
At the Rio Olympics, Ledecky won gold medals in the 800m freestyle, 400m freestyle, 200m freestyle and 200m freestyle relay events, besides a silver in the 400m freestyle relay competition.
And it was hardly surprising to find her name along side other top contenders -- skier Mikaela Shiffrin, tennis aces Serena Williams and Garbine Muguruza, athletes like Allyson Felix and Caster Semenya for the award.
"So it's an honour to be recognised by such a prestigious group, and it's an honour to be nominated alongside some other tremendous athletes," Ledecky told a select group of journalists from across the world.
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With swimming legends like Mark Spitz, Dawn Fraser are Academy members, while Michael Phelps is an award winner, Ledecky feels special to share the platform with the greats of the sport.
"Knowing what those swimmers have accomplished and being nominated for the same award is something that's really special," Ledecky added.
The Laureus World Sports Awards will be held in Monaco on February 27.
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