AMS Media, the incumbent, has held the account for more than ten years and is expected to repitch against at least three other agencies.
Paul Phelps, the managing director of AMS, said: "We have had the account for a long time and it's a perfectly reasonable client practice to review things. We're looking forward to it."
Most of Bernard Matthews' spend goes on television and press advertising.
Turkey Ham commands the bulk of the spend, with more than £4 million.
Its pasties, sliced turkey and Baguette Slices are other big spenders.
The family-owned company, which is based in Norfolk, attracted adverse publicity earlier this year when TV chef Jamie Oliver attacked its Turkey Twizzlers product in his Channel 4 series Jamie's School Dinners. Sales of the product increased despite the negative press.
The company, which was founded in 1950, handles its advertising creative in-house and was taken private five years ago after the US food giant Sara Lee lost interest in a possible takeover.
Bernard Matthews found fame in the early 80s when he appeared in ads for his Turkey Breast Roast and coined the "bootiful" catchphrase.