The company is looking to appoint an agency to oversee media requirements and advise on media strategy as it looks to expand its presence across Europe.
For the first time, the five year contract will include activity in France and Belgium, in addition to work in the UK worth £6 million. Arena has handled the UK business since June 2011.
The review will be led Lionel Benbassat, the head of marketing and brand at Eurostar, who has stated his ambition to better understand how the company can embrace digital and develop a more personalised relationship with customers.
Abbott Mead Vickers BBDO has held Eurostar’s ad account since 2012. It is not believed to be affected.
Eurostar began operations in 1994 between London, Paris and Brussels. It launched a direct service to the south of France on 1 May.
Earlier this year, the UK government sold its 40 per cent stake in the company.
Eurostar had not responded to requests for comment as Campaign went to press.