TORONTO - Pop star Carly Rae Jepsen, rising hip hop producer Kaytranada and electronic adventurer Grimes are among those in the running for the Polaris Music Prize tonight.

An 11-member grand jury will reveal which of the 10 nominees for Canadian album of the year they've chosen to receive the honour and its accompanying $50,000 cash prize.

The ceremony, which is punctuated by a number of live performances, will take place at the Carlu event hall in downtown Toronto and be streamed online.

The Polaris prize is considered one of the country's most prestigious music awards. It has been handed out to the likes of Arcade Fire, Feist and Buffy Sainte-Marie over its decade-long history.

This year's nominees area a batch of diverse sounds and faces, including a strong presence of female musicians who are represented in six of the 10 nominated projects.

Both Jepsen's "Emotion" and Grimes' "Art Angels" are considered two of best-known nominees on the list -- but that doesn't necessarily mean they will win. The jury is asked to pick a favourite regardless of genre or sales.