It was reported on Thursday that Winfrey had been given the honour because of her close friendship with the music superstars.
Appearing on The Early Show on Friday, Winfrey's best friend and business associate Gayle King commented on the matter, insisting that there is no truth behind the story.
"It's absolutely not true that she's the godmother. She's friends with them, of course, and likes them both very much. She's working on sending them a baby gift. She hasn't even had time to send a baby gift because she's been away," King explained.
"Let me just say, if [that report is] true, it is news to her. It is news to her. You know, she was heading to South Africa when the baby was born."
Beyoncé and Jay-Z welcomed the baby girl on January 7 via natural delivery.
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