The 19-year-old, who is in talks to extend his stay at Visy Park beyond this season, picked up the nomination after his two-goal performance in the Blues' thumping 85-point win over St Kilda on Sunday.
Menzel also gathered nine disposals, took eight marks and dished off a goal assist against the Saints.
"I thought I started off quite well in the first half. I was involved in a bit and managed to kick a couple, but we were getting very good service down in the forward line so it was good to get on the end of a few," Menzel told AFL.com.au.
Menzel's goalkicking talents have been on full display against the Saints this year.
The left-footer rated booting three goals in the second quarter against St Kilda in round eight as one of his season highlights.
Surprisingly, Menzel didn't even consider the match-winning major he kicked to seal a famous comeback victory against West Coast in round six.
It might have slipped his mind, but it certainly hasn't among Carlton fans.
"It's come up a little bit, yeah, the supporters always say 'how did it feel kicking the winning goal?'. But I've actually forgotten about that one, it didn't even come to mind," he said.
"When it went through it was a pretty surreal feeling. Coming back from five goals down in the last quarter and just getting over the top of them was pretty unreal."
Menzel is averaging nine disposals and has booted 22 goals in his 14 games this year, and said having a full pre-season under his belt has been hugely beneficial.
He wants to keep building his fitness before moving into the midfield, where he could form part of a potent engine room alongside skipper Marc Murphy and his mentor and fellow South Australian Bryce Gibbs.
It's an enticing prospect for Blues supporters, who will be pleased to know a contract extension for the Rising Star nominee is close.
"We're hopefully going to get something done in the next couple of weeks or so," Menzel said.
Menzel, who was the No.11 pick in the 2012 NAB AFL Draft, becomes Carlton's second Rising Star nominee this season after dashing backman Dylan Buckley was the weekly winner in round two.
