PRWeek has learned that the brand has drawn up a shortlist for the brief, which is currently held by consumer agency Splendid Communications.
The account is thought to be Splendid's largest deal. It was awarded in 2003 when Splendid was founded and is understood to have helped the agency expand into offices in New York and Sydney, where it is also handled, as well as London.
Part of Diageo, the world's largest producer of spirits, the vodka brand is understood to be looking for a global agency to handle the brief, which will have a digital focus.
As part of its work for the brand, Splendid developed the Smirnoff Nightlife Exchange Project in 50 countries, which won the backing of Madonna.
Splendid also launched the official MDNA Nightlife Edition Remix Album for Smirnoff, which features exclusive remixes of singles from Madonna's MDNA album.
A Diageo spokeswoman said the company was unable to comment. A Splendid spokeswoman said the company was unable to comment.
It is not known whether Splendid has been invited to repitch for the account.