Reports that RiRi was being considered for a role in the proposed biopic first surfaced in February - and in April the Bajan singer said she would "have to give my entire life" to take on such a 'huge' role.
But the We Found Love hitmaker has now dismissed the idea and insisted she has not been approached in connection with the film.
Speaking to MTV News, Rihanna said: "[It was] just rumours. I never heard anything like that."
RiRi has previously admitted that Whitney's I Will Always Love You was the first song she "fell in love with" and has made no secret of her admiration for the late singer.
Rihanna made her big screen debut earlier this year in the sci-fi hit Battleship.
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