"Rumors that we're paying for Arias family house etc... are absolutely untrue," he Tweeted on Saturday night.
"I've never met the Arias family, and neither I, nor my ... production company – has paid or promised them anything. Robin and I are praying for the Alexander family," the message reads in full.
The accusations stem from a Tweet by Chris Stark, a "former BB Blogger & Casey Anthony Blogger" and "Paid Researcher."
"Dr Phil Production Company is paying for #JodiArias Family living expenses. Hotel and food TRAVEL for the last 94 days in Arizona," Stark wrote on Saturday.
"Excuse: paying MOM Sandra for her daily NOTES she writes while the trial testimony takes place. Dr Phil paid license fee for photos and video of Arias Family Dr. Phil producer visited Jodi 2 times in jail so far per jailhouse visitor log," Stark continued. "Dr Phil paid Cindy Anthony $600,000 for her interview after the trial."
While Sandra Arias could not be reached for comment, Bill Arias, Jodi's father, denied that the family has worked out any sort of arrangement with McGraw or taken anything from him.
"He asked and we refused. We do not want to deal with him," Bill tells PEOPLE, explaining that he never actually talked with Dr. Phil. A producer approached the family, gave them a card, and said the show would like to do an interview.
In exchange for George and Cindy Anthony's first TV interview following their daughter Casey's trial, the Anthonys asked McGraw, 62, for a donation to their non-profit organization, Caylee's Fund.
Then in September 2011, McGraw informed viewers the interview was being done in return for a donation to Caylee's Fund.
"The couple will derive no income from Caylee's Fund," McGraw said, explaining that the charity is "intending to focus on promoting processes to educate the public about – and advocate for grandparents' rights."
Arias, 32, is being tried for the murder of Travis Alexander, whom she is accused of stabbing 27 times and shooting in the head in 2008.
The nationally televised trial began in Phoenix in January.
Rumors that we're paying for Arias family housing etc... are absolutely untrue. I've never met the Arias family, and neither I, nor my ...— Dr. Phil (@DrPhil) April 7, 2013
... production company -- has paid or promised them anything. Robin and I are praying for the Alexander family.— Dr. Phil (@DrPhil) April 7, 2013