The award signifies each league's best pitcher for a given season.
It is one of the most sought after pieces of hardware in the game.
Detroit Tigers ace Justin Verlander took home the award in the American League last year in addition to being named the AL MVP.
Clayton Kershaw was the NL Cy Young award winner after a memorable 21-win season separated him from the rest of the competition.
Here are three pitchers in each league who will be in the Cy Young discussion at the end of the 2012 season.