Managed by Swansea Council, the market is the permanent home to more than 100 businesses, hosts casual traders, puts on regular events and attracts around 80,000 shoppers every week.
It has made the top 10 in the favourite market category of the 2020 Great British Market Awards. No other Welsh locations are in the running.
Council city centre manager Lisa Wells said: “The public have been voting in this competition run by the National Association of British Market Authorities (NABMA) – and we’re delighted that Swansea Market is doing so well.
“The association tells us that voting was very competitive so it’s great to be in the top 10. It really is a testament to how loved the market is.
“We thank the market’s traders, shoppers and staff for continuing to help make the location a beating heart for Swansea city centre – and, of course, everyone who voted for it.”
Nick Jones, chair of the Swansea Market Traders Federation, said: “The market is one of the city’s great icons, with a wonderful local flavour.
“It’s tremendous to see it saluted on a national level.”
Other locations in the Britain’s Favourite Market 2020 top 10 include Chester, Hull, Newcastle-upon-Tyne and Shrewsbury.
Public votes already cast for each market will count towards the final result and NABMA now begins a judging process. Winners are due to be announced towards the end of January.
The Great British Market Awards is sponsored by Blachere Illumination.