Barcelona have 11 players in the list and Real 10.
World champions Spain are the most well represented country with 12 players, ahead of Brazil, which has eight.
Brazil star Neymar, of Santos, is the only player on the list who plays his club football outside Europe.
The 50,000 professional players registered with FIFPro-affiliated unions who will vote for the team must select an XI in a 4-3-3 formation.
Five players in the shortlist were named in the FIFPro World XI in 2009 and 2010: Iker Casillas and Cristiano Ronaldo of Real Madrid, and Xavi, Andres Iniesta and Lionel Messi of Barcelona.
Players shortlisted for FIFA FIFPro World XI
Goalkeepers: Gianluigi Buffon (ITA/Juventus), Iker Casillas (ESP/Real Madrid), Manuel Neuer (GER/Bayern Munich), Victor Valdes (ESP/Barcelona), Edwin van der Sar (NED/Manchester United until May 2011, now retired)
Defenders: Eric Abidal (FRA/Barcelona), Daniel Alves (BRA/Barcelona), Ricardo Carvalho (POR/Real Madrid), Ashley Cole (ENG/Chelsea), Patrice Evra (FRA/Manchester United), Rio Ferdinand (ENG/Manchester United), Vincent Kompany (BEL/Manchester City), Philipp Lahm (GER/Bayern Munich), Lucio (BRA/Inter Milan), David Luiz (BRA/Chelsea), Maicon (BRA/Inter Milan), Marcelo (BRA/Real Madrid), Alessandro Nesta (ITA/AC Milan), Pepe (POR/Real Madrid), Gerard Pique (ESP/Barcelona), Carles Puyol (ESP/Barcelona), Sergio Ramos (ESP/Real Madrid), Thiago Silva (BRA/AC Milan), John Terry (ENG/Chelsea), Nemanja Vidic (SRB/Manchester United)
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