AMV scooped the business after a four-way pitch against Miles Calcraft Briginshaw Duffy, Rainey Kelly Campbell Roalfe/Y&R and M&C Saatchi.
The decision sees Pizza Hut moving back to AMV, which handled the account between 1998 and 2005 before it moved to Wieden & Kennedy.
The business came up for pitch in March this year, when W&K resigned the account.
The agency cited frustration at a lack of creative opportunity on the account. Whitbread, Pizza Hut's UK franchise partner, sold its 50 per cent stake in the business back to the American owner, Yum! Foods, which has close ties to Pepsico, one of BBDO's biggest clients.
The company now plans to move its brand towards a more casual dining experience and away from its fast-food background. AMV's work will reflect this change.