Kerr and Kennedy were the only Australians to earn a spot on the 55 player shortlist, which was selected by more than 4,100 female players from more than 45 countries who voted on this year's World XI team.
Kerr will go up against 15 of the world's best strikers for team of the year honours, including FIFA Player of the Year winner Lieke Martens, Venezuelan teen prodigy Deyna Castellanos and Melbourne City's English striker Jodie Taylor.
Centre-back Kennedy was named one of 20 defenders in the running for World XI honours, alongside England and Manchester City captain Steph Houghton.
The final World XI team will be revealed during International Women's Day on March 8.
Kerr and Kennedy weren't the only Australians making a mark internationally overnight with Mat Ryan producing one of a number of impressive performances by Aussies in Europe and abroad.
A solid performance from Ryan in goals for Brighton and Hove Albion helped the Seagulls to a 2-1 upset of Arsenal in their Premier League clash at The Amex.
Ryan saved six of seven shots faced and was a solid presence between the sticks for the Premier League minnows.
The result moves Brighton up to tenth on the Premier League standings.
Brighton travel to Goodison Park on Sunday (AEDT) to play 11th placed Everton.
Defender Callum Elder was another Aussie in action in England playing 90 minutes in his Wigan side's 2-2 draw with Blackburn Rovers.
Elder started the match in his prefered left-back postion and delivered a solid performance, despite collecting a yellow card early in the second half.
Wigan fought back from 2-0 down at the break to snatch a draw after two late goals courtesy of Max Power and Michael Jacobs.
A trio of Australians were in action in the Netherlands with Kenneth Dougall and Ajdin Hrustic seeing time on the park.
Dougall played 45 minutes before being substituted at half time during Sparta Rotterdam's 2-1 win against ADO Den Haag.
Craig Goodwin was an unused substitute for Sparta in the match.
Hrustic played the full 90 minutes for Groninjen as they claimed a 1-1 draw with FC Twente.
In Denmark, it was a tough day at the office for former Central Coast Mariners midfielder Mustafa Amini.
Amini played 90 minutes in the losing side as AGF Aarhus went down 1-0 to FC Copenhagen.
Australian striker Apostolos Giannou wrapped up the weekend's action with a goal for Cyrpiot side AEK Larnaca.
Receiving the ball inside the box, Giannou delivered a cool finish to fire past the outstretched arms of the goalkeeper.
AEK came away from the clash with Anorthosis with a point, the match finishing a 2-2 draw.
In Switzerland, Socceroos striker Tomi Juric played 88 minutes in Luzern's 1-1 draw with FC Sion.