No all-rap disc has ever triumphed in that category at the Grammys, making West's nomination a potential record breaker.
And the hip-hop star is confident his music will thoroughly deserve the historical accolade.
He tells MTV.com, "(Late Registration) is really important not just because it was successful this year, but 10 years from now they'll look back at what it did for the game.
"The usage of strings, all types of instrumentation, the musicality of it, the fact that we sat and waited two weeks to rent a real harpsichord to put on Diamonds (FOR SIERRA LEONE) - that's one instrument!
"Now let's take all the songs that were on there and add up the amount of work that went into it; this is the real thing. We put so much pain, blood, sweat, tears, time and money into it, so for it to be nominated is great, but for it to win would be the seal of the work. It really needs that.
"It would be the first album in Grammy history that was all rap that won for Album Of The Year."