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"This entire article is fiction, and for the New York Times to launch a completely false, coordinated character assassination against Mr. Trump on a topic like this is dangerous," said Jason Miller, senior communications adviser for Trump, in a statement.
Miller added: "To reach back decades in an attempt to smear Mr. Trump trivializes sexual assault, and it sets a new low for where the media is willing to go in its efforts to determine this election."
Trump threatened to sue The Times for publishing the story and called one of the reporters who authored it a "disgusting human being."
The Times report was published just days after a 2005 tape leaked of Trump boasting about how he used his fame to kiss and grope women. In one instance, Trump said he could grab women by the genitalia because "when you're a star" they allowed it.
Trump has dismissed the tape as "locker room talk" and said he never actually engaged in such conduct.
"It is absurd to think that one of the most recognizable business leaders on the planet with a strong record of empowering women in his companies would do the things alleged in this story," Miller said, "and for this to only become public decades later in the final month of a campaign for president should say it all."