TORONTO -- Pop star Carly Rae Jepsen, Haitian-Canadian producer Kaytranada and electronic adventurer Grimes are among those in the running for the Polaris Music Prize tonight.

An 11-member grand jury will reveal which of the 10 nominees for Canadian album of the year they've chosen to receive the honour and its accompanying $50,000 cash prize.

The ceremony, which is punctuated by a number of live performances, will take place at the Carlu event hall in downtown Toronto and be streamed online.

The Polaris prize is considered one of the country's most prestigious music awards. It has been handed out to the likes of Arcade Fire, Feist and Buffy Sainte-Marie over its decade-long history.

This year's nominees are a batch of diverse sounds and faces, including a strong presence of female musicians who are represented in six of the 10 nominated projects.

Both Jepsen's "Emotion" and Grimes' "Art Angels" are considered two of best-known nominees on the list -- but that doesn't necessarily mean they will win. The jury is asked to pick a favourite regardless of genre or sales.

Jepsen's album was the follow-up to her breakout success "Kiss," which was buoyed by the massive hit "Call Me Maybe." While "Emotion" failed to deliver the sales of its predecessor, it was embraced by some critics, who called it one of the best albums of 2015.

Grimes' "Art Angels" baffled and fascinated many listeners with its dense, dark and infectious hooks.

Other nominees are return contenders for the Polaris prize. Hamilton-born synthpop artist Jessy Lanza is nominated for the second time with "Oh No," and Toronto-based Basia Bulat is back again with "Good Advice."

Bulat marks her third nomination this year, which puts her among an exclusive club of Canadian musicians that include Caribou, Drake, Metric, Owen Pallett and Shad.

Two female-led groups are also in the running -- Toronto-based pop outfit U.S. Girls with "Half Free," and edgy Vancouver punk rockers White Lung for "Paradise."

Electronic and hip hop producer Kaytranada, whose career started in Montreal, is up for his experimental "99.9%." The album includes appearances from a number of underground artists like Anderson Paak, Little Dragon and U.K. singer Craig David.

Vancouver's Black Mountain is nominated for "IV," a progressive-rock inspired album with a few songs that run north of eight minutes.

Andy Shauf's "The Party" takes a fly-on-the-wall conceptual approach by observing a cast of characters at a social event. The Regina-based singer examines their lives and personality quirks throughout his third album.

And a sly and energetic sophomore effort from Toronto-based Pup on "The Dream Is Over" rounds out the list.

Nominees were whittled down from a larger batch of 40 albums revealed a month ago -- a list that itself was narrowed from 183 qualifying albums.

The Polaris Music Prize will be streamed live on the CBC Music website (http://www.cbcmusic.ca/polaris) and via CBC Music's YouTube Channel starting at 8 p.m. ET.

Performers will include Bulat, Jepsen, Lanza, Shauf, Black Mountain, U.S. Girls and White Lung, who will be supported by members of the Toronto Symphony Orchestra.

Grimes and Kaytranada will both attend the event but aren't slated to perform, while Pup is on tour in Europe and unable to attend.