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The 17-year-old, who shot to worldwide fame earlier this year with Baby One More Time, is nominated for four awards at the ceremony, being held in the Irish capital's Point Theatre.
It is being billed as the biggest television event ever in Ireland, and more then 3,000 hotel rooms have been booked out for production staff, journalists, artists and their entourages.
Other performers nominated include George Michael and Boyzone, who have three nominations each, as do US acts Offspring, Backstreet Boys, TLC and Lauryn Hill.
Fatboy Slim and Jamiroquai have two nominations each, as does Latino sensation Ricky Martin.
It could prove to be a busy night for Boyzone singer Ronan Keating - not only are his group nominated, he co-manages boy band Westlife, who are also nominated twice.
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The show also aims to show off the best of Irish talent. Alongside Keating, The Corrs are due to perform at the start of the show, whilst Pierce Brosnan is due to present an award, and U2 will be in the audience.
Niall Stokes, editor of music paper Hot Press, said: "The fact that the MTV show is being mounted in Dublin this year is symbolic in the sense that it recognises the fact that Irish music now covers all the genres from pop to contemporary dance, folk and traditional."
It is the sixth year of the awards, a spin-off from the MTV Video Music Awards held in the US each September.
MTV president Brent Hansen said: "It has become a hot ticket to be a part of. It's a raw live performance show but it's also a highly polished production.
"We've got the format right and this year we're hoping to put an even more creative element into the mix."
![[ image: width=150]](/olmedia/515000/images/_515689_ricky_martin150.jpg)
Other performances on the night come from Britney Spears, The Cardigans, Mariah Carey and Jamiroquai.
There are 17 awards, and the nominations are decided by an "academy" of European music industry figures and viewers of MTV's European channels. Most of the awards are voted for by viewers.
The awards can be seen live on MTV in the UK at 2000 GMT, with a repeat showing on ITV at 2230.
There are also awards for best German, Italian and Nordic acts, and the special Free Your Mind award, which last year went to Serbian radio station B92.
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