The integration of machine learning methodologies has become prevalent in the development of clinical prediction models, often suggesting superior performance compared to traditional statistical techniques. Within the scope of low-dimensional datasets, encompassing both classical and machine learning paradigms, we plan to undertake a comparison of variable selection methodologies through simulation-based analysis. The principal aim is the comparison of the variable selection strategies with respect to relative predictive accuracy and its variability, with a secondary aim the comparison of descriptive accuracy. We use six distinct statistical learning approaches across both data generation and model learning. The present manuscript is a protocol for the corresponding simulation study registration (Study registration Open Science Framework ID: k6c8f). We describe the planned steps through the Aims, Data, Estimands, Methods, and Performance framework for simulation study design and reporting.