Frustrated magnets can have accidental ground state degeneracies which may be lifted by various forms of disorder, for example in the form of thermal or quantum fluctuations. This order by disorder (ObD) paradigm is well established in equilibrium and here is generalized to Floquet many-body systems. Investigating a periodically driven XXZ-compass model on the square lattice, we show that in a prethermal regime, dynamical fluctuations induced by high-frequency drives select a discrete set of states out of a degenerate ground state manifold of the lowest order Floquet Hamiltonian chosen as initial states. Remarkably, prior to the ObD selection, an unusual fluctuating regime emerges leading to a prethermalization timescale scaling linearly with the drive frequency. We argue that prethermal ObD with its unusual approach to the selected states is a generic phenomenon of driven frustrated systems and confirm it in the paradigmatic J1−J2 XX model. Published by the American Physical Society 2024