The pair recently collaborated on Rain On Me which featured on Gaga’s Chromatica album – and the song is nominated in seven categories.
Canadian singer The Weeknd and pop sensation Billie Eilish, who swept the big four categories at the Grammys this year, both secured a total of six nominations.
Following the surprise release of her eighth album Folklore in July, Taylor Swift is nominated five times, with four nominations going to Drake, Dua Lipa, J Balvin and Justin Bieber.
Former One Direction star Harry Styles secures three nods as do K-pop group BTS.
One of the biggest prizes at the VMAs, which does not separate categories by gender, is artist of the year.
Gaga will compete against rappers DaBaby, Megan Thee Stallion and Post Malone, and singers Bieber and The Weeknd.
In the coveted video of the year category, Rain On Me goes up against Everything I Wanted by Eilish, Godzilla by Eminem featuring Juice Wrld, Life Is Good by Future featuring Drake, The Man by Swift and Blinding Lights by The Weeknd.
This year the VMAs will feature two new categories reflecting the coronavirus pandemic’s impact on the music industry – best music video from home and best quarantine performance.
The best music video from home category includes Grande and Bieber’s lockdown ballad Stuck With U and Drake’s viral video for Toosie Slide among others.
In the best quarantine performance, John Legend and Gaga’s respective slots from the One World: Together At Home concert feature.
The event’s video for good category features a number of songs about the Black Lives Matter movement including HER’s I Can’t Breathe, Anderson.Paak’s Lockdown and Lil Baby’s The Bigger Picture.
Bruce Gillmer, head of music and music talent, programming and events for ViacomCBS Media Networks, said: “We’re excited to unveil the incredible list of VMA nominees who shaped this year’s unique music landscape and bring fans a show that celebrates the powerful unifying force of music.”
The MTV Video Music Awards will air on August 30. Starting on Thursday, fans can vote for winners online.