Three Australian scientists have been named among an elite group considered Nobel prize contenders, based on the impact of their research.

All are chemists and all work at CSIRO, the country's premier scientific research outfit, which is currently reeling from federal government funding cuts announced in the May budget.

CSIRO researchers Dr Ezio Rizzardo and Dr San Thang are this year's Nobel Prize contenders. Credit:Eddie Jim

According to an analysis of scientific research citations, released by Thomson Reuters on Thursday, the three scientists considered the country's best hope when the 2014 Nobel laureates are announced next month are Graeme Moad, San Thang and Ezio Rizzardo.

The Melbourne-based organic chemists developed new plastics and polymers that can be used in everything from solar cells and paints to cosmetics and improved drug delivery methods.