Martin has already collected Grammy and Emmy awards.
He said a few days before the show, to air on satellite radio from Nashville on Thursday night, that he was excited and said winning a bluegrass award "could be better than an Oscar."
Martin's first music album, "The Crow: New Songs for the Five-String Banjo," has topped the bluegrass chart this year.
Dan Tyminski, a guitarist and singer, and his band had nine nominations, including entertainer of the year. The duo Dailey & Vincent.
Martin is a finalist for six awards.
AP Recording News





Steve Martin and Alec Baldwin are co-hosting this year's Academy Awards. Who do you think will be more entertaining?
Alec Baldwin! Have you seen "30 Rock"? Genius!
Neither...I am not the biggest fan of these guys! Bring back Hugh Jackman!
Steve Martin! I have a feeling he'll bring his banjo!
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