The actor took to Twitter to refute the allegations.
His quotes from an interview with Paris Match seemed to suggest that he thought Elba should not play James Bond as he wasn't "English English."
According to the interview, Moore had said:,"A few years ago, I said that Cuba Gooding Jnr would make an excellent Bond, but it was a joke! Although James may have been played by a Scot, a Welshman and an Irishman, I think he should be 'English-English'. Nevertheless, it's an interesting idea, but unrealistic."
Moore went on to add that he simply agreed with the journalist who interviewed him when he asked if "Bond should be English," and his response has been taken out of context.
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"Luther" star Elba, was born in Hackney, London, and has emerged as a strong contender to replace Daniel Craig as Bond.
British newspapers have speculated that other actors in the frame include Dan Stevens, Henry Cavill and Tom Hardy.
Craig will next appear as the British super spy in "Spectre", the 24th film of the series and his fourth outing. The film is set for a November 6 release.