Spaniard schemer Silva, who had a difficult first campaign last summer, has adapted superbly to life in the Barclays Premier League this season and has been an instrumental figure in City's rise to the top of the league table so far.
England international Milner believes that Silva's slick performances this season should not go unnoticed.
"Maybe I am biased but David has been unbelievable for us," Milner said to the club's official website..
"He should be in the running regardless of what I think."
"But we have another candidate, too because Joe Hart has been absolutely outstanding all season."
"There have been top performances right through the squad. Gareth Barry has been unbelievable while the boys at the back Vincent Kompany, Joleon Lescott plus Gael Clichy coming in - it's not easy changing clubs."
"It is a quality squad to be involved in, but David and Joe are the two stand-out performers for me. We can't vote for them because we are team-mates but I'm sure they will be there or thereabouts."
However, former Aston Villa wideman Milner added that ex Valencia starlet Silva would trump his challengers for the top accolade due to his consistent displays.
"I have been lucky enough to play with some top players so far in my career, but David is definitely up there," he added.
"It is very enjoyable to play with him every day. He loves getting involved with the banter, too. His English is pretty good now. We have learned a bit of Spanish as well and I can't speak highly enough of him.
"He is a great lad which is nice to see."
"It says a lot about a lad who has come to England, he can't speak too much English, but he gets involved with the lads."
"Sergio (Aguero) is the same. He can't speak that much English either, but he loves the banter. He is a great lad. It is a big testament to him as well.
"We have quality all over the field so if David doesn't play we have others who can come in which is down to the manager."
City are currently at the summit of the league standings on 54 points, three ahead of city rivals Manchester United.