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The Tory leader hopeful was taking part in ConservativeHome hustings on Friday when the blunder was spotted.
Mr Sunak was going head-to-head against the four other candidates with a placard containing a misspelling of the word ‘campaign’ in the background, instead spelling it “campiaign”.
People took to social media to mock the Chancellor for the gaffe.
One person wrote: “New language invented by @RishiSunak campaign or should we say ‘campiaign’. Attention to detail needed by next leader. #campiaign”.
Another posted: “So much for @RishiSunak being the polished perfectionist he just preached - Campaign is spelt incorrectly on his background!”
A third added: “Rishi Sunak may be a billionaire, but he can’t spell CAMPAIGN”.
After people picked up on the spelling mistake, Mr Sunak, who has launched the ‘Ready for Rishi’ campaign to become the next leader of the Conservative Party, made light of the error and responded: “Ready for spellcheck”.
The 90-minute debate, hosted by Krishnan Guru-Murthy, will start at 7.30pm on Channel 4.
On Tuesday, Zahawi and Hunt were dumped from the race after failing to meet the 30 vote threshold in the first ballot.
The following day, the Attorney General was also knocked out after receiving the fewest votes of all candidates in the second ballot.
Hopefuls Kemi Badenoch, Penny Mordaunt, Rishi Sunak, Liz Truss and Tom Tugendhat remain in the competition.
The result of the winner will be announced on September 5.