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"While Muhammad Ali was treated for dehydration on November 19, he is currently at home, well, happy and carrying on with his daily routine," the Muhammad Ali Centre said in a statement.
"Early reports were blown out of proportion," it added.
Earlier, the Louisville Courier-Journal newspaper said Ali had had a scare last month when his wife called an ambulance to take him to the hospital.
"I don't think he stayed very long," Ali's close friend John Ramsey told the paper. "He may not be going in the direction you or I like but no one is on the alert."
The Star magazine and RadarOnline.com also reported earlier that Ali had been hospitalised for a few days after attending the funeral for old rival Joe Frazier after losing consciousness at his Phoenix home.
Ali is scheduled to attend a celebration of his 70th birthday on January 19 in Louisville, Kentucky.
