Current sponsors T-Mobile have decided to step down following their four-year association with the club, although they will remain involved with the club.
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The Baggies, who are fourth in the Championship and in the semi-finals of the FA Cup, are already in discussion with a number of potential sponsors.
Baggies Sales and Marketing Director Tim Gardiner said: "Given the team’s performance in the league and FA Cup this season, becoming West Bromwich Albion’s main club sponsor is a fantastic platform for any brand on a national and international level.
"We have demonstrated our ability to deliver great value for our partners and we feel this is a great opportunity for a new organisation to benefit from a relationship with a club that has great ambitions on and off the field."