Madison, who dated Hefner for around five years, was one of the Playboy mogul's lovers to appear in reality TV show The Girls Next Door as well as her own spin-off series Holly's World.
She has now written a book about her life at the iconic mansion, Down the Rabbit Hole: Curious Adventures and Cautionary Tales of a Former Playboy Bunny, in which Madison claims she was miserable during her time there and even contemplated suicide.
However, Hefner has now dismissed her claims, saying in a statement, "Over the course of my life I’ve had more than my fair share of romantic relationships with wonderful women. Many moved on to live happy, healthy and productive lives, and I’m pleased to say remain dear friends today. Sadly, there are a few who have chosen to rewrite history in an attempt to stay in the spotlight. I guess, as the old saying goes: You can’t win 'em all!"
Hefner has been married to another Playboy Playmate, Crystal Harris, since 2012.