The company is in the running in the City Operator of the Year category.
The awards overall attracted 200 entries from around the country and the shortlist was announced today at the UK Bus Awards annual conference at Warwick University.
The awards have been running since 1996 and the winners will be announced at the London Hilton Hotel on Tuesday 16 November.
Awards chairman John Owen said: “We’ve been absolutely delighted with both the quantity and quality of entries for the 2010 UK Bus Awards.
“Despite the pressures caused by the harsh economic climate and the Competition Commission inquiry into the bus industry, we’ve been hugely impressed by the commitment to quality and innovation shown by bus operators, local authorities and their partners.
“The judges have had an extremely tough time selecting the shortlist, and the final decision is going to be very difficult indeed.
“I wish all the nominees every success at this year’s event in November.”
The awards are intended to recognise and reward excellence and good practice and to inspire others to emulate those successes.
Before deciding the winners, “mystery travellers” will check finalists in the operating categories to ensure that service delivery is up to the mark.
The awards shortlist described Brighton and Hove Buses as having an enviable reputation in the local community that it serves.
It said that the company had successfully worked in partnership to grow passenger journeys consistently for more than 15 years.
It added that the company had a passion for excellence in customer service, operated a modern fleet running frequent easy-to-use services at value-for-money prices with great staff and excellent marketing.
Brighton and Hove’s fares are due to rise on Sunday (26 September), with some £1.80 single journeys rising to £2 and one-day Saver tickets going up by 10p to £3.70.
The seven-day scratch-off Saver will go up from £8 to £8.50 when bought on the bus. Pre-purchased versions will stay at £7 and the three-month Bus ID Saver will go up by £1 to £70.
The boundary of the central fare zone is being extended to include popular stops such as Hove Town Hall, the Royal Sussex County Hospital and The Avenue in Lewes Road.
For those customers, fares will fall 20p from £1.80 to £1.60.
The £1 short hop fare for shorter journeys all over the city remains unaltered as does the one-day £3 Saver ticket when bought online and the £430 annual ticket.
Youngsters with Bus IDs will also be able to travel at the same prices – 20p accompanied or 50p solo for any journey, with their one-day Saver staying at £1.80.
The company said that this was the first change in fares in two years – since summer 2008 – despite rising costs.