The 49-year-old had registered himself and assistant manager Kevin Watson as players ahead of the injury-ravaged club's Herts Senior Cup fixture against Welwyn Garden City.
However, Stevenage released a statement indicating that Sheringham will not actually be taking the field as a player.
"There's been lots of media speculation today on Teddy dusting off his boots, however we have an update for you," the statement read.
"Contrary to speculation we can confirm that neither Teddy Sheringham or Kevin Watson will feature in tomorrow's Herts Senior Cup game at WGC.
"With a number of squad injuries and the FA Youth Cup game just 48 hours before this fixture, both were registered in case they were required."