The review, which is being handled by Oystercatchers, includes brands acquired by the company's merger with MyTravel.
The incumbent on the £4 million UK Thomas Cook account is The Company of Angels, while My Travel's incumbent is Clear Communications Manchester.
The pitch process will be led by Simon Carter, the executive director of marketing at Thomas Cook.
Thomas Cook's advertising account last pitched in November 2005, when the company first attempted to consolidate its advertising, which was split between TBWA\London, Farm and the Manchester-based agency Home.
The brand's best-known work is a TBWA\London-developed campaign featuring the strapline: "It's time to leave the country." The work, which ran for three years, highlighted reasons why people in Britain might want to leave the country, including a fictional alien invasion, the congestion charge and the first day back at work at the start of a new year.