The agency will create a visual identity that will be used across a range of marketing material, as well as a trailer to appear before each cinema screening at the festival, which runs from 13 to 28 October.
Entries are open for this year's festival until 25 June and the full programme will not be announced by the BFI until September.
Last year's festival screened award-winning films such as Precious and The Prophet.
As the online media partner for the festival, LoveFilm last year produced a digital campaign to promote its association with the BFI.
As well as a dedicated microsite, blog and social media activity, LoveFilm used content from its online campaign in its magazine and weekly newsletter.