Speculation that Derulo had proposed to Sparks began when photographs emerged of the American Idol winner wearing a ring.
However, Derulo has now told Life & Style that he is not planning to marry Sparks yet.
"We're not engaged," he said. "It's just a nice ring."
Derulo added that he didn't even buy the jewellery, adding: "Everybody is ready to say that as soon as something like that happens."
Derulo confirmed that he was dating Sparks in January and recently worked on a remix of 'It Girl' with her.
Watch Jason Derulo and Jordin Sparks's remix of 'It Girl' below: