However, it is sticking with ITV presenting duo Ant & Dec who star in the current ad campaign.
Morrisons said it planned to appoint a single agency to lead the creative and brand direction with specialist agencies focusing on "implementation across all channels above and below the line". The incumbents on its creative account is DLKW Lowe, and the agency intends to repitch for the business.
The review is being led by Belinda Youngs, corporate brand marketing director at the retailer.
She claimed that the current campaign starring TV presenters Ant & Dec had been "very successful" but added: "As Morrisons continues to move into multi-channel and multi-format retailing, we need to ensure we have an agency structure in place for the challenges and opportunities that lay ahead."
A Morrisons spokesman added that Ant & Dec would not be dropped from its advertising as a result of the review.
Morrisons recently announced that it would begin rolling out its convenience format at pace throughout 2013, with the aim of opening 100 stores in the current financial year.
In 2011 it entered the general merchandise online market through the acquisition of Kiddicare, a leading baby care retailer and in 2012 it extended its online presence by launching MorrisonsCellar.com. It is set to enter the online grocery market by January 2014.