Sources have told Goal the wrestling CEO is not planning a bid for the Magpies despite recent reports suggesting he might try to tempt owner Mike AshleyNewcastle.
Winner Sports reported the professional wrestling magnate was eager to expand his brand into the Premier League and was hoping to purchase the club from current owner Mike Ashley.
"That's completely false," a WWE source told Goal USA on Tuesday.
McMahon was previously rumoured to be interested in purchasing the Magpies in 2011, speculation that was quickly denied by the club. The latest report indicated McMahon was also interested in staging wrestling events at St. James' Park.
His company, formerly known as the World Wrestling Federation before it was changed in 2002, partly as a result of a lawsuit with the World Wild Fund for Nature, is launching a new subscription-based streaming network in the United States next week with plans to expand the service to the UK and other countries later this year.
The 68-year-old McMahon's net worth has been estimated between $500 million (£300m) and $1.1 billion (£660m). He occasionally made his way from the boardroom into the ring, winning the 1999 Royal Rumble and a WWF Championship.