The 25-year-old allegedly said that he was going to donate his earnings from Germany's triumph in Brazil to a charity for children in the Gaza Strip.
Ozil, who is the Gunners record signing, earned a £237,000 bonus for helping Germany win the final and £118,000 for his side's semi-final win.
But his representative tonight said the Arsenal midfielder was donating money to projects in Brazil and not to the aid efforts in Gaza.
Roland Eitel said: "The claim that Mesut donated money to Gaza is not true.
"Maybe in the future, who knows? He donated money to causes in Brazil and he is now on holiday."
The Middle East Monitor had initially claimed Ozil was going to donate his World Cup winnings to the children of Gaza.
They also alleged that Ozil had declined to shake hands with a FIFA official at the World Cup because of his support for Israel.
Ozil, who is of Turkish descent, is a practising Muslim and he recites the Quran before games.
He took to his Facebook page earlier today to say that he was paying for 23 sick children in Brazil to undergo surgery.
He wrote: "Prior to the #WorldCup I supported the surgery of eleven sick children [in Brazil].
"Since the victory of the #WorldCup is not only due to eleven players but to our whole team, I will now raise the number to 23."
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