The Dancing With The Stars duo, who have been best friends for many, many years, are up for Best Bromance at the show against Jonah Hill & Channing Tatum, Key & Peele, Adam Levine & Blake Shelton and Seth Rogen & James Franco.
Unfortunately, Jonah and Channing took home the award.
Derek is also performing during the show, and even ran into his season 13 dancing partner, Amy Purdy.
Hosted by Kelly Osbourne, the 2014 Young Hollywood Awards will air Monday, July 28th @ 8PM ET/PT on the CW.
10+ pics inside…