The film, directed by Srinu Vaitla, also stars "Yaariyan" actress Rakul Preet Singh and has Charan's superstar father Chiranjeevi's special appearance.
Tamannaah, 25, took to Twitter to shot down the reports about her involvement with the film.
"Not been approached for any song in the film #BruceLee , false news guys!!!!" she tweeted.
"Bruce Lee" is scheduled for a worldwide release on 16 October 2015.