The two brands go head-to-head in the frozen pizza sector: McCain produces Pizza Fingers while Heinz has a range called Pizza Pleasure.
McCain, whose other brands include Oven Chips and Rostis will part company with D'Arcy later this month, ending a five-year relationship.
McCain will put the advertising business out to pitch early next year following a strategy review by the brand communications agency Elephants Can't Jump (ECJ).
The media account, held by PHD Compass, is not thought to be affected by the creative review.
D'Arcy's relationship with McCain had already been weakened by the appointment of Campbell Doyle Dye in July to oversee the launch of Vibes, a frozen crisp range. Vibes has been supported by a major sampling campaign in the London area.
McCain currently has an ad campaign, created by D'Arcy, on air to support Home Fries, a range of chips that can be cooked by frying or baking.
McCain, whose major rivals in the frozen food market include Birds Eye Walls and Heinz, wants to create a consistent brand image that is reflected in all areas of marketing communications and across its portfolio of sub-brands. ECJ will be responsible for delivering this strategy, which will be the basis for the appointment of a new ad agency.
McCain claims to be the world's leading frozen potato products company, with a presence in more than 100 national markets. Its potato ranges account for more than 60% of the company's total sales.
The UK frozen food market is worth more than £3.3bn and has been buoyed by a series of major product launches. Birds Eye revamped its fish finger range earlier this year, while Heinz is planning the launch of a sub-brand called Bite Me!, which will position frozen food as an alternative to snacks such as crisps.