This comes after the Nittany Lions went 1-1 during the week, splitting results against Northwestern and Indiana.
In the final week of the regular season, former Penn State players made history and helped their teams achieve playoff goals.
The freshman underwent heart surgery on November 22 and has been recovering at home.
Castro-Fields played five years with the Nittany Lions before being drafted by the 49ers in 2022.
Franklin would be the third coach in school history to win the award.
The team is the preseason favorite to win the EIVA Championship.