Boss Darren Ferguson, who only returned to the club on January 12 for his second stint at London Road, guided Posh to four wins, three draws and one defeat from their seven games last month.
He will now compete with Southampton boss Nigel Adkins, Leyton Orient`s Russell Slade and Bournemouth manager Lee Bradbury for the accolade.
Striker Craig Mackail-Smith was also shortlisted for the player of the month gong having found the net seven times across five different matches in February.
He will go up against Rickie Lambert (Southampton), Glenn Murray (Brighton) and Jimmy Smith (Leyton Orient).
Both winners will be announced on Friday.
Source: PA
Source: PA