December was to prove a memorable month for Wilcox at Scunthorpe United, while the achievements of his fellow bosses at Newport County, Burton Albion and Cheltenham Town have also been recognised.
Scunthorpe and Newport also have contenders for the Player of the Month prize, in the form of Deon Burton and Michael Flynn respectively, while Exeter City's Tom Nicholls and AFC Wimbledon's Ross Worner complete the shortlist.
Here, Sky Sports considers more closely the managers in contention.
Russ Wilcox (Scunthorpe United)
During a month in which his status was upgraded from caretaker to permanent manager, he oversaw a haul of eight points from four unbeaten games. His players drew confidence from his calm demeanour and tactical nous.
Justin Edinburgh (Newport County)
Nine points from four games - three of them away - moved County into the play-off places in a first season back in the Football League and proved due reward for Edinburgh's positive tactics as his adventurous side chase victories.
Gary Rowett (Burton Albion)
Masterminded his side's passage through a series of tight games to register two wins and two draws. Built from the back, they conceded just two goals all month - a solid base upon which they moved up to third place.
Mark Yates (Cheltenham Town)
Having worked all autumn to overcome Cheltenham's stuttering start, Yates reaped the rewards in December. Most impressive of their 10 points from five games were the three they earned in a clinical 2-0 triumph at Fleetwood Town.
Sky Sports also takes a look at those in the mix to be named Player of the Month.
Deon Burton (Scunthorpe United)
Four goals in as many games for the 37-year-old predator. Burton's positioning and opportunism were apparent in a crisp finish for his second against Morecambe, while a neat header at Oxford United lifted his team into the top three.
Michael Flynn (Newport County)
The playmaker's experience was vital in pushing County into the play-off places, urging his team-mates on and leading by example with both goals at Portsmouth and a technically brilliant volley for the winner at Wycombe Wanderers.
Tom Nicholls (Exeter City)
The 20-year-old's hold-up play and driving runs have been a revelation. He scored two goals on his first start of the season at Accrington Stanley, including a delightful chip, and lit up the Devon derby with a fine strike at Torquay United.
Ross Worner (AFC Wimbledon)
Has overcome a shaky start at the Dons to display his full range of shot-stopping and win over the fans. Conceded just two goals in three matches and produced several brilliant saves to preserve a goalless draw at home to Mansfield Town.