The Colombia international was among the 23 players nominated for the prestigious honour, joining the likes of Cristiano Ronaldo, Lionel Messi and Gareth Bale in being named.
Falcao scored 12 goals in 20 games after the turn of the year for Atletico Madrid, earning a €60million move to free-spending Ligue 1 newcomers Monaco.
The 27-year-old has justified that lofty price-tag with a return of eight goals in 11 top-flight performances.
And he is delighted his performances have been recognised by his nomination, with the winner due to be announced in January.
“I am very happy to be here for the second time consecutively on the list of 23 finalists for the Ballon d’Or,” he told the club’s official website.
“I thank God to be present on this list, with 23 excellent footballers.
“(It brings) great pride for me, Monaco and also for my country.”
Ligue 1 will also be represented on the shortlist by Paris Saint-Germain trio Edinson Cavani, Zlatan Ibrahimovic and Thiago Silva.