Winger up for top apprentice accolade.
Drey, who broke into the U's first team at the start of this season, has been shortlisted for the League One Apprentice of the Year award.
He will be up for the accolade against Luke James of Hartlepool United and George Willis of Sheffield United at the ceremony, which will be held at The Brewery in London at the end of March.
Drey has made fifteen first team appearances this season and grabbed his first professional goal in the game against Brentford on Boxing Day.
This year there are a total of 17 awards. A total of 24 clubs have made the shortlists for the eight categories announced.
Huddersfield Town and Plymouth Argyle lead the way with three nominations each, while a further four clubs have two nominations.
Richard Heaselgrave, Chief Commercial Officer at The Football League, said: "The Football League Awards are a great way to celebrate the work that goes on behind the scenes at each club, as well as the action that has taken place on the pitch each week.
"To make these shortlists is a real achievement, bearing in mind how many and the quality of the entries we've had once again. I would like to wish all those nominated the best of luck and we look forward to announcing the winners on the evening."