Kasabian, Friendly Fires and La Roux are among the 12 acts nominated for this year's Mercury Music Prize.
The Horrors, Florence and the Machine, Sweet Billy Pilgrim and Speech Debelle have also been short listed for the honour.
The remaining nominees are Led Bib, Lisa Hannigan, Bat For Lashes, The Invisible and Glasvegas.
The 12 nominated acts were announced at a ceremony in London this morning.
Elbow won last year's Mercury Prize for 'The Seldom Seen Kid' – the album which triggered the band's commercial break through.
Kasabian, who have been short listed for third album 'West Pauper Ryder Lunatic Asylum', are joint favourites to win this year's award.
Bookies William Hill have placed the rock group at 5-1 alongside Florence and the Machine, who picked up a nomination for debut album 'Lungs'.
Bat For Lashes' 'Two Suns' and 'La Roux's and Glasvegas' self-titled debut efforts are at 6/1, while 'Primary Colours' by The Horrors is 8/1.
Sweet Billy Pilgrim's 'Twice Born Men' is the outside at 10/1.
The short list fails to include the likes of Lily Allen, Doves and Little Boots, who had all been tipped for the prize.
The 2009 Mercury Prize ceremony will take place in London on September 8.
Read Jon Thomson's Mercury Prize massacre HERE.
The 2009 Mercury Prize nominees: