The council is working in partnership with the Kent Architecture Centre on the appointment, an idea floated by the urban taskforce report, published in June 1999.
The Kent Architecture Centre is also looking to make similar appointments in Gravesend.
Barry Shaw, the centre's chief executive, said the three architects had been approached but that the project was in its early stages.
The role of the architects has yet to be defined, but is likely to include raising the profile of Hastings, advising on bids for regeneration funding and advising on brownfield developments.
I think town champions can help … I am prepared to fight for Hastings
Jane Priestman, candidate for Champion
Shaw said: "We are very enthusiastic, but we also have to be very careful, from the architects' point of view and the town's point of view, that there isn't a conflict of interest." There has been criticism of London mayor Ken Livingstone's proposal to appoint Lord Rogers as architectural adviser on the Greater London Authority because his practice, Richard Rogers Partnership, works in the city.
Tony Fry, director of regeneration and planning at Hastings Borough Council, said Hastings was also hoping to set up a regeneration company along the lines of Sheffield One.
A world-class architect appointed town champion would be involved in bidding to set up a regeneration company.