The British star will compete against Loving actress Ruth Negga, Manchester By The Sea actor Lucas Hedges, The Witch star Anya Taylor-Joy, and Spanish actress Laia Costa, best known for her work in the improvised film Victoria, for the EE Rising Star Award at next month’s ceremony.
Holland, 20, follows in the footsteps of Andrew Garfield and Tobey Maguire as Peter Parker in the Marvel cinematic universe.
He made a brief appearance in the role in 2016’s Captain America: Civil War but will anchor his own film when Spider-Man: Homecoming is released later this year.
He first appeared on the big screen opposite Ewan McGregor and Naomi Watts in tsunami movie The Impossible, and will soon be seen in The Lost City Of Z with Robert Pattinson and with Benedict Cumberbatch in The Current War.
Speaking about his nomination, Holland said: “I have to say thank you to Bafta for recognising my work and nominating me for the EE Rising Star Award.
“What a huge honour this is and what a great category to be nominated in, so thank you thank you thank you!”
Negga, 34, began her career in the theatre but gained a legion of admirers when she took on the role of Tulip O’Hare opposite her real-life partner Dominic Cooper in Preacher, a series based on the popular comic books.
She will soon be seen opposite Joel Edgerton in the critically-acclaimed film Loving, about an inter-racial married couple behind a pivotal civil rights case, and said it was “surreal” to be recognised for doing something she loves.
She added: “I can’t wait for the ceremony in London!”
Hedges, 20, got his big break in Wes Anderson’s Moonrise Kingdom after the director saw him in a school play, and he also appeared in Anderson’s Oscar-nominated The Grand Budapest Hotel.
He will next appear in Manchester By The Sea, a film generating awards buzz for leads Casey Affleck and Michelle Williams, in which Hedges plays Affleck’s troubled nephew.
The US actor said he was thrilled to be nominated for an award won by stars such as Tom Hardy, Kristen Stewart and Will Poulter.
“It’s really exciting to be recognised for an award that has nominated many of my favourite actors over the years.
“I’ve always been enamoured with English culture and have dreamed of living in England, so this nomination is particularly meaningful for me,” he said.
Taylor-Joy, 20, has made her name in horror films, including her debut role in The Witch and sci-fi horror Morgan. Her next role is in M Night Shyamalan’s thriller Split, opposite former Rising Star Award winner James McAvoy.
Costa, 31, landed a series of award wins for her performance in German heist thriller Victoria, which was shot in a single take, and has worked extensively in her native Spain.
The Rising Star Award, which was last year won by Star Wars actor John Boyega, is the only Bafta voted for by the public, and voting is now open at ee.co.uk/bafta.
The rest of the nominations will be announced on January 10 and all the winners will be unveiled at the star-studded ceremony hosted by Stephen Fry on February 12 at the Royal Albert Hall.