Starcom is understood to have held the account for in excess of ten years. It is unclear whether the agency will be invited to repitch.
According to sources, with incoming owner Alexander Lebedev at the helm, the title expects media spend to rocket to £10m this year as it looks to arrest declining sales and take the fight to the London freesheets.
Excluding online spend The Nielsen Company said the title spent around £500,000 on media in 2008, the bulk of which was on outdoor.
The Publicis group still holds the account for Daily Mail & General Trust (DMGT) brands including The Daily Mail, which are not part of the review.
The review is likely to take place once the sale of the newspaper to Alexander Lebedev is complete at the end of the month.
The move to review comes as the Evening Standard looks to introduce a number of changes following its sales to Lebedev, the former KGB agent, including offering its readers free and heavily discounted copies of its 50p daily paper outside train and Tube station.
It is thought that the paper is looking to spend around £10m on media this year, bolstered by a substantial increase in marketing spend.
Starcom declined to comment.
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