It had been alleged that the 78-year-old screen icon had recently gotten engaged to talent agent Jason Winters.
However, writing on her Twitter account, she said: "The rumours regarding my engagement simply aren't true.
"Jason is my manager and dearest friend. I love him with all my heart."
Taylor, who divorced her seventh husband Larry Fortensky in 1996, previously described Winters as "one of the most wonderful men" she has ever known.