The account was held by Publicis' sibling agency Saatchi & Saatchi, which is also owned by Publicis Groupe.
The consolidation will see the Crest account team at Saatchi move into Publicis as part of the shift.
P&G described the decision as part of a strategy to create single-point "brand agency leaders" to oversee the entire marketing efforts for its products.
The system has already been tested with a handful of brands, including Old Spice and Braun.
The move does not affect other Crest accounts, some of which are handled by non-Publicis Groupe agencies.
In addition, creative duties in China, which are handled by Saatchis, will continue to remain with the agency.
The appointment of Publicis has handed the agency one of P&G's largest US advertising accounts in terms of billings alone. Only P&G's Olay brand has a bigger ad spend than Crest.
Saatchi was first appointed to the Crest account in 2002 in a roster shake-up precipitated by the closure of its former shop, D'Arcy Masius Benton & Bowles, New York.