Essam Erian, a spokesman for the Muslim Brotherhood, said in a statement on the organization's official Ikhwanweb site that political reports in Egyptian daily newspaper al-Masry al-Youm were inaccurate.
The daily reported that the banned political group would field 200 candidates for November elections.
The spokesman described the reports as "groundless" and inaccurate, adding Muslim Brotherhood leaders were still discussing their political ambitions.
He said the organization would issue a formal announcement on its candidates when discussions conclude.
The Muslim Brotherhood announced in May that 12 of its members were approved to run in elections for the Shura Council, the upper house of Parliament.
The Muslim Brotherhood is barred from political activity, though its candidates run openly as independents.
None of the Shura Council candidates won seats in the elections, however.