TORONTO - Arcade Fire, Austra and Destroyer are among the 10 artists vying for the Polaris Music Prize tonight.

The $30,000 prize will be handed out at a gala in Toronto.

The award is given to the best Canadan album from the previous year, regardless of genre or commercial performance.

A jury of 200-plus music journalists and broadcasters whittled 12 months of releases into the 10-album shortlist, and a grand jury of 11 critics will deliberate tonight to select the winner.

Meanwhile, six of the nominated acts -- including Montreal's Braids, Hey Rosetta of St. John's, N.L., and Toronto's Timber Timbre -- will perform at the reception this evening.

Arcade Fire might appear to be the front-runner heading into the show, since the Montreal band's third record, "The Suburbs," has already won album-of-the-year honours at the Grammys, Junos and Brit Awards.

But in the past, comparatively under-the-radar acts including Patrick Watson and Karkwa have pulled out surprise wins.

Other notable acts up for the award this year include Ron Sexsmith, the 47-year-old Toronto singer/songwriter who is the most experienced Polaris nominee ever, and Toronto indie-R&B breakout the Weeknd, whose debut "House of Balloons" was the first-ever free mixtape to nab a Polaris nod.