The US rapper had been linked to a lead character in the upcoming animated movie, but his management told MTV News that this "is only talk" and that the reports are "just rumours".
Up screenwriter Bob Peterson and Peter Sohn will direct The Good Dinosaur, which looks at an alternative history where humans and dinosaurs live together on earth. The film is scheduled for release in May 2014.
Meanwhile, Lil Wayne - whose real name is Dwayne Michael Carter Jr - has revealed that he would like to be a sports commentator once he has finished his Tha Carter V album. He has already appeared on ESPN's First Take and Jim Rome's sports talk show.
"I'd be a skater/sports analyst. My day job will probably be sports analyst and I'll skate all night instead of being in the studio all night," he said.