The rumour, which did the rounds on Twitter, suggested Banksy’s art had popped up in locations where Mr Buchanan had performed music.
“Neil Buchanan is NOT Banksy,” a statement on the artist’s website read. “We have been inundated with inquiries over the weekend regarding the current social media story.
“Unfortunately this website does not have the infrastructure to answer all these inquiries individually, however we can confirm that there is no truth in the rumour whatsoever.
“Neil spent lockdown with vulnerable members of his family and is now preparing to launch his new art collection in 2021.”
Mr Buchanan became a familiar face in many households in the UK between 1990 and 2007 through his role on ITV’s Art Attack.
Many will remember him for giant works of art which he would put together using everyday items.
Banksy, meanwhile, recently sprayed the inside of a London Underground train carriage with messages about the spread of coronavirus, before it was removed by Transport for London.