The movie is set to be the first Spider-Man from Marvel and with Tom Holland in the titular role. There were rumours doing the rounds that D'Onofrio, who plays the role of Kingpin in hit television series "Daredevil", is set to join the movie.
The 56-year-old actor took to Twitter to deny the rumours.
"If @MatthewModine had not told me about this film and Stanley Kubrick had not cast me. I doubt I'd have a career," he wrote.
"Spider-Man: Homecoming" is set to hit the big screen next summer and will see Jon Watts in the director's chair for his first Marvel film.