The client is understood to be holding a series of chemistry meetings with agencies, but Shine has declined to take part in the process.
Details emerged shortly after the US-headquartered giant reported growing profits, with its Q4 2013 net income of $850m (£512m) up from $751m (£452m) the previous year.
Over the course of Shine's tenure on the account eBay has made a long transition from being seen as an auction site for second-hand goods to a retail powerhouse with a strong offer across a broad range of brands.
One source with insight into the process said this would likely be a key part of the comms strategy for the new incumbent.
"The business model is shifting to be much more focused on its ‘Buy it now’ proposition. It has done an awful lot of work on this and is continuing to try to build strong links with the high street."
Recent moves in this area have included a partnership with Argos last year in a six-month trial allowing goods to be bought from selected eBay sellers to be picked up from Argos stores.
Shine CEO founder Rachel Bell said: "They have been a great client and a defining piece of business for the agency over the past seven years and we wish them all the best going forwards.
"They asked us to repitch but we sensed they were ready to make a change so wish them all the best."
Shine’s work has included managing eBay's sponsorship of the British Fashion Council's Fashion Forward initiative and creating last month's ‘shoppable pantomime’, where the audience was given Christmas gift ideas through a staging of Cinderella.
EBay declined to comment.