While Aamir has been nominated for 'Ghajini', Akshay is in contention for 'Tashan' and Hrithik for 'Jodhaa Akbar'.
'Ghajini' is a film that required a lot of aggression that exposes the basic crude emotion of human loss. I'm honoured to be nominated in the best action actor category, as the action in the film is more complex and thought provoking, showcasing anger, vengeance and physical violence,' said Aamir in a statement.
'Race' is a thoroughbred action film, complete with flamboyance and panache. I enjoyed performing the stunts and watching the movie evolve into a suave piece of cinema. I am thrilled to be nominated for my role,' he said.
The results will depend on public voting which is now open. Fans can cast their votes by logging on to www.axnactionawards.com or by texting to 52525.
The winners will be announced on the channel next month.