The software company has talked to at least two networks in advance of a pitch for the business. The review is believed to be at an early stage.
Ubisoft currently uses agencies on a local basis in European markets, with the independent agency MJ Media handling UK planning and buying. It is thought Ubisoft is exploring the benefits of consolidating the business.
The company is best known for creating the Tom Clancy Splinter Cell series of games. Its other titles include Rainbow Six and Open Season.
Ubisoft is also holding a creative pitch in the UK as it gears up for the busy pre-Christmas season of games releases. The company is one of the fastest-growing in its sector, increasing UK sales by 55 per cent during 2006, and US sales by 78 per cent.
It designs games across consoles including Nintendo Wii, Microsoft Xbox 360 and Sony PlayStation 3.