The entries will now be presented to HRH The Duke of Cambridge and Theo Walcott, who will decide the winner in September.
The chosen design will then be made into a permanent memorial to be housed at the National Memorial Arboretum.
The competition is part of the ‘Football Remembers’ project organised by the British Council, The Football Association, Football League and Premier League.
It culminates in a week-long commemoration period in December during which opposing teams will pose for a combined pre-match photograph, replicating the spirit of unity shown on the battlefields of the Western Front.
As part of the remembrance activities, schools across England were asked to design a permanent memorial to the football matches played along the Western Front during the Christmas Truce in December 1914.
Hundreds of schools entered the competition and now the top entries have been selected to be presented to the judges.
In all, 34 schools across the country made the final shortlist.
Speaking of his pride at being involved in the process, HRH The Duke of Cambridge said: "As President of The Football Association, it gives me great pleasure to be supporting the Football Remembers project.
"The British Council, together with The FA, Premier League and Football League, have put together a tremendous resource for use in the classroom and at home. It promises to be a powerful way to engage and educate young people about such an important moment in our history.
"We all grew up with the story of soldiers from both sides putting down their arms on Christmas Day, and it remains wholly relevant today as a message of hope over adversity, even in the bleakest of times."
Each of the shortlisted designs have gone on display along with the other finalists at an exhibition at the National Memorial Arboretum in Staffordshire, which is open daily and free to enter.
And The Duke added how pleased he has been with the response of children up and down the country.
"I am delighted that children across the country will be taking part in a schools competition to design a memorial to the Christmas Truce – a competition which I will be helping to judge," he continued.
"The memorial will be housed at the National Memorial Arboretum in Staffordshire, close to The FA’s St. George’s Park facility.
"A fitting location, which I hope many who visit the national football centre in future, will stop by to visit.
"I would like to wish good luck to everyone who takes part and to thank all those who are involved in commemorating this year’s centenary of the First World War. It is vital we never forget."
Football Remembers finalists
Bedford Academy, Grange School Hartford, St Denis Primary, William Ellis School, St Thomas Moore Primary, Southbrook School, Sandhurst School, Kingsmead School, Tower Road Academy, The Avenue Special School, Snodland Primary, Colchester Royal Grammar, St Philomenas School, Belmont Primary, St Mary and St Johns Primary, St Brigids Primary, Highlands Primary, Outwoods Primary, St Michaels, The ACE Academy, Xaverian Academy, Findern Primary, Pencombe Primary, Richard Challionor School, St Peters Yoxall, St Redes Primary, Wilkes Green Junior, The Downs School, Farne Primary, Fairway Primary Academy, Chaulden Junior, Queen Marys Grammar, East Bergholt High School, Durrington High.