Aegis-owned Carat has held the account for 14 years. The UK portion of the business is worth £15m.
A spokesman for Walt Disney said the review was part of a best practice, procurement-led process across all of its business units. The review follows a similar process being undertaken in other marketing agency sectors.
Carat is expected to repitch for the account, the spokeswoman added.
The Walt Disney account includes Disney Channels, Disney Stores, Buena Vista Games and the Disneyland resort in Paris.
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