The distiller, which does not currently have a retained agency in the UK, is in the late stages of the pitch and several agencies' work is understood to be in research.
Dewar's products include the White Label, Dewar's 12 and Dewar's Signature whisky brands. It also has a visitor centre, Dewar's World of Whisky, in Scotland, although the advertising is not expected to promote this.
Advertising for the brand aired in South America, Thailand and Greece earlier this year and featured Sean Connery. The actor appears within a James Bond film clip and is shown talking to a younger version of himself. The strapline is: "Some things age, others mature."
Dewar's was not available for comment as ŠCampaign went to press.