The broadcaster was reported to have made the suggestion in a BBC Radio 4 documentary which will air on June 23.
The Guardian's Merope Mills spoke to James's agent on the phone, and wrote on Twitter that the critic had dismissed the reports as "bollocks".
"The interview which Clive James gave to the BBC sounds much less doom-laden than it does when transcribed by the press," their correction read.
"He is in fact in reasonable shape and looking forward to years of work."
Since the quotes regarding James's health were published this morning, several comedians, critics, writers and broadcasters have praised his work.
"Time to tell Clive James how very loved he is. A brilliant, funny, twinkly-eyed man," said Julian Clary
Charlie Brooker added: "Only just read about Clive James being ill. He made me want to write for print and do TV about TV. Impossibly perceptive & hilarious writer."
"Clive James: Best TV critic ever," said Heat's TV writer Boyd Hilton.