The group is nominated for Instrumental Group and Vocal Group of the Year, while Krauss and band mate Dan Tyminski are nominated individually for Female Vocalist and Male Vocalist.
Group members Barry Bales, Jerry Douglas and Ron Block are also up for several individual awards.
Doyle Lawson and Rhonda Vincent announced the nominations Tuesday at the Country Music Hall of Fame and Museum.
Blue Highway received 10 nominations, including Vocal Group, Song, Gospel and Instrumental Group of the Year. The band also is nominated for two different Album of the Year projects, including their 2005 release "Marbletown."
Lawson and his band, Quicksilver, received seven nominations, as did Ricky Skaggs & Kentucky Thunder.
Lawson's nominations include Entertainer of the Year, Gospel Recorded Performance and Song and Album of the Year.
After 43 years, Lawson said nominations and awards are still meaningful.
"When you finish up what amounts to a year and you look and see three or four or five categories of nominations you say, `Well, you know, I think I can do better next year.' It just gives you an incentive, and there's also a good deal of satisfaction in knowing that your peers are paying attention to what you're doing," he said.
Skaggs & Kentucky Thunder were nominated for Instrumental Group — a category they've won the last seven years — and for six individual awards.
As owner of Skaggs Family Records, Skaggs also saw several artists on his label nominated, including the family group Cherryholmes, which is up for five awards including Entertainer of the Year.
Last year, Cherryholmes surprised some observers by being nominated and then winning Entertainer of the Year as a new group.
"Seeing Cherryholmes nominated for Entertainer of the Year again lets people know that last year was not a fluke. It wasn't a mistake," Skaggs said.
Vincent and her group the Rage received six nominations, while the Del McCoury Band got four and The Grascals three.
Marty Stuart will host the show Sept. 28 at the Grand Ole Opry House.
The International Bluegrass Music Association also announced Tuesday that bluegrass gospel group the Lewis Family and the late King Records founder Sydney Nathan will be inducted into the organization's Hall of Honor.