season, Wednesday was named as one of three finalists for the Hart Trophy, which is awarded to the league's Most Valuable Player.
Theodore backstopped the Canadiens' late drive to their first playoff spot in four years, posting a 30-24-10 record with a 2.11 goals-against average and seven shutouts.
Roy recorded a 32-23-8 mark for the defending Stanley Cup champions while leading the NHL with a 1.94 GAA and nine shutouts.
Wings and Rob Blake of the Colorado Avalanche were nominated as finalists for the Norris Trophy, which goes to the top defenseman.
Lidstrom is looking to win the award for the second straight year while Chelios, who captained the United States Olympic team to a silver medal at the Salt Lake City Games, is a three-time winner. Blake previously won the Norris in 1997 as a member of the Los Angeles Kings.
The last time two defenseman from the same team were named as finalists was in 1968, when Boston's Bobby Orr and Ted Green finished first and third, respectively.
The NHL also announced the finalists for its other major awards -- the Calder Trophy, Vezina Tropy, Adams Award, Selke Trophy and Lady Byng Trophy.
Theodore and Roy also were nominated for the Vezina, which recognizes the top goaltender, and were joined by Phoenix's Sean Burke.
Phoenix's Bob Francis, Boston's Robbie Ftorek and Brian Sutter were tabbed for the Adams Award, which honors the most outstanding coach.
The winners will be announced during the NHL awards show in Toronto on June 20.
Iginla also will receive the Maurice Richard Trophy as the NHL's top goal scorer and the Art Ross Trophy as the league's overall point leader.
Roy will receive his fifth William M. Jennings Trophy, which goes to the goaltender who allows the fewest goals during the regular season while playing more than 25 games.