The pitch, which is being run out of Nestea's head office in Zurich, begins with strategic presentations this month, followed by a creative pitch at the end of February.
Beverage Partners Worldwide, the joint venture between The Coca-Cola Company and Nestlé, which distributes Nestea globally, is handling the process.
The successful agency will take responsibility for developing a global ad campaign for the iced tea brand, in a bid to strengthen its position against its main rival, Lipton, the Unilever-owned product.
The campaign will run in all global markets where it has a presence, except for the US and Japan.
The review comes after a pitch for the Hong Kong and Macau Nestea account, which was won by McCann Erickson following a pitch against Lowe, WE Marketing and the incumbent, Ogilvy & Mather.