The company has approached agencies and is expected to hold a pitch for the account later in the autumn.
McCain's review is understood to be part of a renewed effort by McCain to connect with consumers through digital advertising.
The company does not currently have a retained digital agency. However, in 2007, it used glue London to create an online campaign that allowed users to deliver messages to their family and friends via a "personalised potato parade".
The pitch is thought to focus particularly on how McCain can use social media to interact with consumers.
McCain's advertising is held by Beattie McGuinness Bungay, which has worked on the business for just over four years, after winning it from TBWA\London in May 2006.
BMB's most recent high-profile work for the brand was a £7 million campaign called "good unlimited", which was released last year and included a TV ad that featured McCain's products being produced in a Willy Wonka-style potato factory.
McCain is a sponsor of UK athletics and, in July, launched a consumer campaign, fronted by the actress Sheree Murphy.