The Sun on Sunday newspaper reported that Rooney had signed a new four-and-a-half year deal to stay at Old Trafford, worth 70 million pounds ($117 million) which would make him the best-paid player in the Premier League.
"There is no deal, which is why we haven't announced it," a United spokesman said.
Negotiations are believed to be ongoing.
The 28-year-old Rooney has been the subject of transfer speculation since the end of last season and Chelsea admitted an interest in signing him, but were told he was not for sale
The retention of Rooney would be a major boost for United manager David Moyes who has endured a difficult first season in charge with the champions languishing in seventh place in the Premier League.
(Reporting by Steve Tongue, Editing by Ed Osmond)
