According to Yahoo! Sports, Ovechkin said, "I am better. But I will miss four to five weeks."
"The Washington Capitals dispute the validity of this report," the team told ESPN.com's Pierre LeBrun.
Ovechkin was injured in a 5-4 overtime loss to the Columbus Blue Jackets on Nov. 1. He left the game early in the second period and has not played a game since.
Coach Bruce Boudreau said Tuesday that they were hopeful Ovechkin would not miss more than two weeks.
"I think that it's tough," Ovechkin told Yahoo! Sports. "November has just begun. I need to heal up 100 percent and then play. There is no need to risk right now."
Ovechkin did not specify in the report whether a doctor told him he would be out longer or if it was from his own evaluation.
ESPN.com's Pierre LeBrun and the Associated Press contributed to this story.