It has approached digital shops with a brief to create an online campaign to position Alfa as a premium car brand for upmarket drivers.
Fiat is conducting the search out of its UK head office in Berkshire. A decision is expected by early July.
Separately, Fiat is on the hunt for an agency for its Lancia model, which it plans to reintroduce to the UK next year after a 15-year absence.
The car company has contacted a number of UK shops through its Italian agency, Armando Testa. A decision is expected this summer.
In February, Alfa moved its £8 million planning and buying account from Starcom to Mediaedge:cia.
Fiat Group Automobiles, which includes Alfa and Lancia, raised its trading profit from EUR291 million to EUR803 million in 2007, and has set Alfa and Lancia sales targets of 300,000 each per year by 2010.