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The news has prompted some to instead link the Sherlock Holmes director to the film version of DC Comics' WWII battle-hardened hero, Sgt Rock.
Ritchie was asked about his connection to Lobo during an interview with MTV News.
He said: "Is it a matter of fact that I'm doing it? I don't think it's a matter of fact. In fact, I can tell you it's not a matter of fact."
When pressed further to reveal any involvement, Ritchie replied: "Isn't there a fifth amendment or something?"
Last month producer Joel Silver revealed that a test of Lobo had been filmed but it was up to studio bosses whether to go ahead with the project.
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