The Rocketman star said while it was flattering that people think he could be a fit for the part, there is no truth to reports he could take over the role from Hugh Jackman.
He told GQ Hype: “That anyone thinks I would be good for the part is really flattering. I love Marvel, but it’s just fan stuff. There is no grounding for those rumours.”
Jackman previously told Variety that a conversation he’d had with TV star Jerry Seinfeld had indirectly helped him decide to step away from the role after 17 years.
Welsh star Egerton also spoke about the importance of theatres reopening following the coronavirus pandemic.
He told GQ: “My instinct is to say it’s imperative we get people back in theatres, but not at the expense of public health. I don’t know how you get 500 in a theatre safely.
“For me, though, I’ve wanted to get back on stage for a long time and when something’s not there, you want it more. London theatre is a huge part of its economy and character, but what’s more alarming is provincial theatre.
“For somebody like me, who came up through Aberystwyth Arts Centre, if that facility dies, my little sisters won’t have that opportunity and that’s really tragic”.
He said returning home to Wales had been a nice “antidote”, adding: “As much as I enjoyed last year, with all the craziness, it’s nice to step away from the limelight. I’ve enjoyed being in my hometown. I feel like a member of a community.”
Egerton won a Golden Globe earlier this year for his portrayal of Sir Elton John in Rocketman, but missed out on an Oscar nomination.
He continued: “Rocketman was very exciting. I met Meryl Streep, Brad Pitt. But it’s good to get back to reality.
“I like being down the road from my mum. I like being down the road from my little sisters. It’s very important for my sanity. I love Hollywood, but I like to withdraw back to something that feels more normal.”
The full GQ Hype interview is out now.