Midfielder Nguyễn Quang Hải, defender Đoàn Văn Hậu, midfielder Đỗ Hùng Dũng, striker Nguyễn Văn Quyết and midfielder Nguyễn Trọng Hoàng will compete for the top award, the Golden Ball title.
Head coach Park Hang-seo announced his squad for the 2020 AFC U23 Championships which begins on Sunday.
Nguyễn Quang Hải is the favourite for the contest which is organised annually by Sài Gòn Giải Phóng (Liberated Sài Gòn) newspaper.
The U22 team made history by thrashing Indonesia 3-0 in the final at the Rizal Memorial Stadium in Manila, the Philippines.
The comfortable win booked Việt Nam's spot in Tuesday's final against Indonesia, who earlier in the day defeated Myanmar 4-2 after extra time.
Việt Nam defeated Singapore 1-0 thanks to a late header from striker Hà Đức Chinh in their fourth match in Group B at the Southeast Asian Games in the Philippines yesterday.