They are the only semifinalists from Otago, out of 49 nationally, chosen from hundreds of nominations.
Both are semifinalists in the senior New Zealander of the year category, and Mr McKnight is also nominated in the local heroes category.
"I've enjoyed doing these things and it's a great time in my life to put things back into the community.
"My aim at this stage in my life is for everyone to owe me a favour," he said.
Sir Eion, who was nominated by John Brimble, of Sport Otago, was the president of the New Zealand Olympic Committee and is honorary president.
He is a New Zealand Arts Council trustee, chairman of the 100% Pure New Zealand Winter Games, and founder of the University of Otago Edgar Centre for Diabetes Research.
He established the Queenstown Resort College and chairs stockbroking company Forsyth Barr Group Ltd.
Mr McKnight (74), who was nominated by Central Otago Mayor Malcolm Macpherson, said being named a semifinalist took him by surprise.
Mr McKnight has been involved in sport his whole life and is a life member of Otago Cricket and Otago Rugby, as well as a New Zealand Curling Association ice master.
He won a community service award at this year's Central Otago Awards, organised and hosted by the Central Otago District Council, partly for his leadership and management during the development of the Maniototo International Curling Rink in Naseby.
Awards patron Jim Bolger heads the judging panel, which includes Dame Malvina Major, former All Black Michael Jones, and broadcaster Jim Mora.
Three finalists from each of the five categories - which also include New Zealander of the year, young New Zealander of the year, and community of the year - will be announced in the first week of 2010.
Winners will be announced and presented with awards by Prime Minister John Key in Auckland on February 3.
