The Interpublic Group agencies won out in a pitch against Krow, Iris and the incumbent Frame.
The process was handled by the AAR together with Subway head of marketing, Alex Cacouris.
The review is part of Subway’s plan to action a new marketing strategy aimed at reflecting the growth of the business.
McCann will spearhead the new advertising strategy, while Momentum will handle point of sale and digital activity.
Subway currently has over 1,400 shores owned by 660 franchisees, with plans to open another 600 stores by the end of 2010.
Last month, Subway launched a promotional campaign across the West Country region to promote its new meal deal, using atmAd cash machines.
It offers consumers a free bag of crisps or a cookie and a drink if they present their Subway-branded ATM receipt when purchasing a sub sandwich.