Earlier, rumours claimed that Ellin had approached the former congressman but had not yet had a response.
However, Ellin has now told Entertainment Weekly that he was just joking and has not been in touch with Weiner.
"I made a joke on CNBC last week," he said. "Maybe that is where this is coming from."
Weiner resigned on Tuesday after it emerged that he had posted sexually explicit images of himself on Twitter.
Ellin confirmed earlier this year that he had asked Charlie Sheen to appear in Entourage but later revealed that it would not be happening.
The eighth and final season of Entourage will premiere on July 24 on HBO.