In the GQ story, written by Jeanne Marie Laskas, Douglas is quoted as saying: "I don't know about Brad Pitt, leaving that beautiful wife to go hold orphans for Angelina.
"I mean, how long is that going to last?"
The Brangelina-bashing comments were picked up widely.
However, in an interview that was to air Monday, Douglas tells TV's "Extra" he denies having said it.
"It was a lengthy article," he says. "(It) must've been 20 hours of tape recording, so I asked to hear the tape recording and the reporter said, 'Well, I turned the tape recorder off.' And I said, 'Well, you had it on for the whole time, so I didn't say it."'
Andy Ward, the magazine's executive editor, fired back in a statement Monday, saying Laskas "spent many hours over the course of four months with Michael Douglas. His comments about Brad Pitt and Angelina Jolie -- along with many other quotes from that long night at a hotel bar in Washington, none of which he is disputing -- are in Jeanne Marie's notebook.
"We stand behind them 100 percent. For him to suggest we made them up is laughable. Still, we like the guy and hope all this attention will help his movie."
Pitt and ex-wife Aniston divorced in October 2005. Since then, Jolie's children, Maddox and Zahara, have legally had their surname changed to Jolie-Pitt, and Pitt is expecting a child with the bombshell actress this summer.
The 61-year-old actor, a "Messenger of Peace" for the United Nations, tells "Extra" he wrote the high-profile couple an apology and considers Pitt "a good friend, and (Jolie) does wonderful work for the United Nations, which is what I'm also involved in."
Douglas adds that he feels that the alleged misquotes stem from pressure on magazines to be "exploitative" in order "to try to attract people for their circulation."
After a three-year hiatus, Douglas returns to the big screen this year in the psychological thriller "The Sentinel," starring opposite Kiefer Sutherland, Kim Basinger and Eva Longoria.