The company is approaching agencies with a view to putting together a longlist in the next three weeks. Then, following a round of chemistry meetings, it will draw up a pitchlist of four.
The incumbent on the business is CHI & Partners. It has been offered the chance to repitch, but has not decided whether it will take part.
The winning agency will be briefed with creating irregular one-off TV executions for the company's range of products, in a bid to challenge rivals such as PG Tips.
CHI picked up the business in late 2001 after a flurry of movement that saw the account switch agencies six times in just four years.
In 1997, the account moved from Delaney Fletcher Bozell, where it had been for three years, to Saatchi & Saatchi.
But just six months later, Typhoo was back at DFB, where it stayed until moving to Mother in January 2000.
A year later, Mother resigned the account, which moved to Fallon for six months, before ending up at CHI.
The agency's first work brought back the "OO" slogan that had last been used in 1990. Its most recent work was a £2 million TV campaign that launched in September 2007 and highlighted the expertise that goes into making tea.
Typhoo's previous parent, Premier Foods, sold the brand to the Indian group Apeejay Surrendra for £80 million in 2005.
It is now the country's fourth-biggest tea brand with sales of £45 million in 2007, according to TNS.