The review, which is being handled by the AAR, covers online advertising for the channel's entire portfolio of programmes. A decision is expected in early October.
According to David Pemsel, ITV's marketing director, the broadcaster will select between one and three agencies and is intending to develop retained relationships. Online media is not involved, and will be handled by ITV's existing media agency, MindShare.
ITV has used a number of agencies to promote individual programmes on an ad hoc basis. Play, the digital arm of M&C Saatchi, ITV's above-the-line agency, has worked on recent projects and will pitch as part of this review.
Pemsel said: "I am looking for our digital agency to have the same status as M&C Saatchi, MindShare and our internal agency, so we can look at whether to transfer money out of traditional media and into digital."
According to Pemsel, the process is separate from the channel's ongoing drive to make more of its TV content available on the internet.