It was recently claimed that Martha Marcy May Marlene director / writer Sean Durkin was adapting Blatty's 1971 novel into a ten-part series.
However, Blatty has since told Bleeding Cool that the rumours are "utterly false".
The novelist insisted that it would be impossible for Durkin and producers Morgan Creek to film a new Exorcist adaptation, since he still owns the rights to his original work.
However, Blatty went on to claim that he and William Friedkin - who directed the original 1973 Exorcist movie - are developing their own mini-series adaptation.
"Friedkin and I have a new mini-series remake script that we hope will one day be picked up," he said.
The first Exorcist film spawned two sequels and a prequel, of which two alternate versions were released.
> Max von Sydow interview: 'I was never scared by The Exorcist'
Watch the trailer for The Exorcist below: