Senior executives of the ICI-owned company are understood to be researching proposals presented by the long-time incumbent on its £2 million account - the Bristol-based agency Bacon Caldow Loney O'Connell - and two other agencies.
The future of the media account, currently with Carat, has yet to be decided.
Cuprinol, which is under perpetual threat from the own-label products produced by the DIY retail giants B&Q and Homebase, has struggled in recent years against delisting but has made a comeback recently with Rollable, a new staining product applied with a roller.
Ronseal has overall leadership of the UK woodcare market, mainly because of its domination of the interior sector. But Cuprinol leads the exterior and garden sector and the rivals make continual efforts to encroach into each other's territory.
Cuprinol's advertising was best known for the wood stain man, a three-foot high wooden figure created by Cogent, which featured in the brand's advertising for more than ten years.
It was killed off at the end of the 90s in favour of a more colourful and upbeat approach to contrast with Ronseal's "blokeish appeal.
However, Peter Hunt, Cuprinol's retail marketing manager, denied the business was being reviewed. "We're researching concepts and looking at new campaigns as we always do at this time of the year but we've no plans to change our current agency, he said.