The couple, who are known to have been dating since April 2010, were alleged to be getting married after Huntington-Whiteley was spotted wearing a diamond band on her ring finger.
In response to the speculation, a representative for the Victoria's Secret model explained to E! that Huntington-Whiteley had owned and worn the same ring for years.
The couple were apparently spotted apartment hunting in New York City amid the engagement reports.
Transformers insiders last week claimed that the 24-year-old will not return for a recently-announced fourth movie.
Statham has denied rumours that he is to replace Shia LaBeouf as lead of the franchise.