Oystercatchers, the intermediary handling the review, is approaching both roster and non-roster agencies to compete for the business with a decision on a winning agency expected by November.
Abbott Mead Vickers BBDO currently handles the £6 million UK Dulux advertising account.
The brand's advertising became famous for its use of an old English sheepdog, but it has moved away from the canine mascot in recent years.
Kerris Bright, AkzoNobel's chief marketing officer for decorative paints, is overseeing the review, and is understood to be seeking a single agency with a global presence that can demonstrate an understanding of how its global brands can be brought together and promoted through campaigns in local markets.
AkzoNobel stable of decorative paint brands includes Glidden, Hammerite, Crown and ICI Paints, which includes the iconic Dulux brand.
In 2006, Dulux began a long-running sponsorship of the Channel 4 show Ugly Betty, which was supported by an ident campaign featuring the strapline: "We know the colours that go."