Chesney has earned nine nominations in total, including 'Entertainer of The Year', 'Male Vocalist of the Year' and 'Song of the Year'.
Aldean has also been recognised in the 'Entertainer of the Year' and 'Male Vocalist of the Year' categories, as well as 'Video of the Year' for his track 'Tattoos On This Town'.
Taylor Swift leads this year's solo female nominees with nods for 'Entertainer of the Year', 'Female Vocalist of the Year' and 'Video of the Year' for 'Mean'.
Brad Paisley has been honoured with four nominations including 'Vocal Event of the Year' for his duet with Alabama on 'Old Alabama'.
Toby Keith, Lady Antebellum, Eli Young Band and Grace Potter have also received multiple nods from the Academy of Country Music.
Fans have been invited to vote on 'New Artist of the Year' until the official nominees for that prize are announced on January 30.
Blake Shelton and Reba McEntire host the 47th annual Academy of Country Music Awards from Las Vegas on Sunday, April 1, 2012 at 8/7c on CBS.
> ACM Awards 2012 – Nominees in full
> Academy of Country Music Awards to stay on CBS until 2021