Although the spread is a popular breakfast food on the continent, the strategy flies in the face of the current trend for UK food advertising, which is shifting towards the promotion of healthier eating habits.
The news comes three months after Ferrero appointed the Nitro conflict shop Dreamcoast to handle its £3 million Kinder Bueno account after a three-way pitch.
Dreamcoast was the third agency in 18 months to handle the account. WCRS held the business before Clemmow Hornby Inge won the brief in November 2005.
The Italian-based Ferrero has an annual UK adspend of around £4.5 million, and has a number of brands including Kinder Surprise, Kinder Bueno and Tic-Tac.
Nutella is a cultural phenomenon in Italy and France, and sells almost a billion of its glass jars across the world every year. The brand's comparative level of success in the UK has been relatively limited.
Media for the brand is handled by Mediaedge:cia.
Ferrero refused to comment on the review.