He said a few days before the show, to air on satellite radio from Nashville on Thursday night, that he was excited and said winning a bluegrass award "could be better than an Oscar."
Martin's first music album, "The Crow: New Songs for the Five-String Banjo," has topped the bluegrass chart this year.
Dan Tyminski, a guitarist and singer, and his band had nine nominations, including entertainer of the year. The duo Dailey & Vincent.
Martin is a finalist for six awards.