The Chelsea duo played an integral role as the Stamford Bridge side defied the skeptics to beat Napoli, Barcelona and Benfica on route to the final, before a rearguard action against Bayern Munich resulted in a stunning penalty shootout victory.
Drogba, who now plays for Chinese club Shanghai Shenhua, has been shortlisted for World Player of the Year for scoring the equalising goal in the final, before dispatching the winning spot-kick in the penalty shootout.
The Ivorian has fierce competition for the award - Neymar, Cristiano Ronaldo and Lionel Messi have all been nominated as well as Chelsea star Eden Hazard and Manchester City midfielder Yaya Toure.
Di Matteo takes his place in the World Coach of the Year category after an incredible end to the season at Stamford Bridge.
The Italian took over from Andre Villas-Boas in March, with the club on the cusp of elimination from the Champions League.
But the former-Chelsea midfielder galvanised his old club, got the dressing room onside, and led the Blues to a famous Champions League and FA Cup double - the Champions League trophy win was the first time the west London club has won the competition.
Di Matteo also has stiff competition in the coach category. Euro 2012-winning Spain manager Vincente Del Bosque, La Liga-winning Real Madrid boss Jose Mourinho and Bundesliga-winning Borussia Dortmund coach Jurgen Klopp are also nominated.
The results will be revealed in the January 2013 edition of World Soccer Magazine, to be published in mid-December.