Manning missed the entire 2011 season with neck and back problems and underwent several operations. He then signed with Denver as a free agent and has led the Broncos to an AFC West title and 10 straight wins.
Peterson is also having a tremendous comeback season after tearing up his left knee on Christmas Eve one year ago.
Peterson had major surgery, came back in Week One, has rushed for 1,898 yards and has the Vikings on the doorstep of a playoff spot.
The other headliner is Washington Redskins' rookie quarterback Robert Griffin III. Griffin has completed over 66 percent of his passes for over 20 touchdowns and only five interceptions. He has led the 'Skins to the brink of an NFC East title.
The San Francisco 49ers has the most players selected to the Pro Bowl with nine. Linebacker Patrick Willis tops that list with 116 tackles and two interceptions.
Not to be outdone, the Houston Texans were next with eight players selected to go to Honolulu, leading that list is defensive end J.J. Watt and his 77 tackles and 20.5 sacks.
Also making his Pro Bowl debut is New York Giants wide receiver Victor Cruz. Cruz has 82 catches for 1,040 yards and nine touchdowns.