The successful agency will create a TV campaign to air in August. It will focus on one of the station's regular slots, such as its breakfast show, to promote its offering to a wider audience.
TalkSPORT marketing director Calum Macaulay is handling the pitch. The station does not have an incumbent ad agency.
TalkSPORT is currently suing the BBC for damages after BBC One claimed on-air that Five Live had exclusive radio rights to coverage of Euro 2004.
TalkSPORT was also granted official broadcaster status by UEFA.