The agencies are Ogilvy & Mather New York, Madrid’s SRA Rushmore and Buenos Aires-based Santo.
Earlier this year Coca-Cola invited 10 agency partners from around the world to pitch ideas for a campaign. The company decided to go with a "networked agency approach", said a Coca-Cola spokesperson.
The three winning shops will develop the first round of creative work for the brand. The additional seven agencies that participated in the review will continue to partner with the company and "contribute to the final pool of work", the spokesperson said.
The other seven firms include Wieden & Kennedy Portland; David; Dentsu; South Africa’s FCB; Mercado McCann in Buenos Aires; McCann Madrid; and The Cyranos McCann in Barcelona.
The Coke spokesperson said: "We set out in this process with the goal of uncovering the best ideas and marrying those to executional excellence, anticipating that they may come from different sources.
"This approach allows us to harness thinking from some of the best agency minds in the industry today and see the great work that comes from collaborating against a common brief for Coca-Cola."
Last year Coca-Cola appointed Marcos De Quinto as its new CMO. De Quinto succeeded Joe Tripodi in the role in January.
The win for WPP follows the appointment of an interdisciplinary team from the holding company to handle Emirates’ global branding and creative account.
Earlier this year Aston Martin Lagonda also brought on a multi-disciplinary team from WPP for its global integrated marketing account.