Benzema topped the scoring charts last season in the Champions League with 15 goals, while teammate Courtois made a record nine saves against Liverpool in the final.
De Bruyne and co were eliminated by Madrid in the semi-final of the competition.
The final shortlist was compiled after a vote by coaches and selected journalists.
In the award for coaches, Madrid’s Carlo Ancelotti has been shortlisted along with Jürgen Klopp of Liverpool and Pep Guardiola of Man City.
The winners will be announced August 25 in Istanbul at the draw for the group stage of this season’s Champions League.
Jorginho of Chelsea won the award last year after helping Chelsea and Italy to European titles.