The review marks the first time in ten years the account has come up for pitch. A list comprising Carat, The Allmond Partnership, BLM Media and Equinox has been invited to pitch.
A spokesman said the review had been called because of the length of Carat's tenure on the account and to take account of changes in the UK media scene over the past decade. The pitch process is expected to be resolved within the next few weeks.
Pathe's recent releases include Resident Evil, 24 Hour Party People, The Pianist and Dog Soldiers.
The company released 19 films in 2001 through its distribution arm, generating £15.3 million in revenue. It operates a separate UK production arm to co-produce its bigger-budget fare such as the Nicole Kidman film In The Cut.
Jerome Seydoux, the Pathe co-chairman and chief executive, has signalled he intends to float the company soon.