Qatari high jumper Barshim, 26, went through the season unbeaten and won gold at the World Championships.
Belgium's Thiam, 23, won gold in the heptathlon in London to add to her Olympic title at Rio 2016.
Britain's four-time Olympic champion Mo Farah was nominated in the men's category after winning world 10,000m gold and 5,000m silver in August.
World 400m and Olympic champion Wayde van Niekerk was also nominated in the men's category.
Thiam was shortlisted alongside Greece's world and Olympic pole vault champion Ekaterini Stefanidi and Ethiopian 5,000m world and Olympic gold medallist Almaz Ayana .
American 100m world champion Justin Gatlin was left off the original long list for the award.
Source: AFP
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