Ofc it CAN.  Anyone saying it has 0 chance, when the last Batman Arkham game by rocksteady got 94 on metacritic, is kidding themselves.

IF Fallout 4 comes out this year, then no chance.
The last 3 developed Bethesda Game Studios games won GOTY, I see no reason why this should change now.

Also from 2011:
Skyrim GOTY awards: 226
Batman Arkham City GOTY awards: 40

You never bet against Batman.

Big Boss -vs- Batman -vs- Geralt

I'm taking BloodBorne out of the list because its an exclusive and I dont see an exclusive game getting GOTY any time soon.

Unlikely. It's going against Bloodborne, The Witcher 3, MGS5 and Halo5. Some websites will also give their GOTY awards to smaller titles like Persona 5, No Mans Sky and a few others that will probably be highly critically acclaimed but aren't as popular as the other four games I have already mentioned. GOTY awards are all over the place honestly, and It's difficult to replicate what Uncharted 2 did in 2009, Skyrim in 2011, TLOU in 2013 and Dragon Age: Inquisition last year. Batman: Arkham Knight will be a great game but doesn't look like it'll have the same level of praise as those "official GOTYs" from what I have seen so far.

It will be a contender but there's a lot of competition it will have to face.

There's also bloodborne and mgsv

The Last of Us in 2013.

Wasn't the last Arkham game kind of crummy? I think the series is going to have to re-prove itself before I expect too much.

The last game was not made by Rocksteady who developed both Asylum and City. Arkham Origins was not original at all. They basically used the same open world and added snow. Rocksteady should make this game fresh, but I doubt it will win most game of the year awards.