Euro RSCG had been the incumbent on the brand's £60m global advertising business since November 2009, after winning a pitch against DDB.
Last year it was responsible for the launch of a major integrated campaign called "Let's Colour", which sent Dulux products around the world to transform grey spaces with vibrant colour.
Dulux is now understood to be opting away from using a global ad agency to implement its ad activity, and will instead allow each market to devise and carry out its own campaigns.
The company is expected to hold pitches for its local business in the coming months, but nothing has yet been confirmed.
In February last year, Kerris Bright, Dulux's global chief marketing officer, left the company to become head of marketing at British Airways.
Bright, who has since left BA to join Ideal Standard, oversaw the review that resulted in Dulux appointing Euro RSCG.
Abbott Mead Vickers BBDO has also handled Dulux's ad business, in a relationship that lasted for 13 years.