The Barclaycard Mercury Prize shortlist will be revealed on July 19.
The 12 acts up for the prize will be named by broadcaster Lauren Laverne in a ceremony at the Hospital Club in London.
Bookmakers William Hill currently have PJ Harvey as favourite at 9/4. Adele is second at 6/1, closely followed by James Blake and Wild Beasts at 8/1, with Hurts at 10/1.
Radiohead, Elbow, Jessie J and The Vaccines are all outsiders at 25/1.
“There’s been so much great music released this year,” said Laverne. “I’m sure the judges will have an even more challenging job than usual choosing the final shortlist of 12 Albums Of The Year. It’s certainly looks like it should be a really strong line-up.”
PJ Harvey last won the award 10 years ago for her 2000 album ‘Stories From The City, Stories From The Sea’.
Last year saw The xx walk away with the prize for their self-titled debut album.
The actual ceremony will once again be hosted by Jools Holland and will take place on September 6.