Well, that's sorted then.
The 53-year-old was chatting Dave Hughes and Kate Langbroek on their KIIS FM drive show, promoting his new film with Tom Cruise, The Mummy, when the radio duo subtly turned the topic to matters of the heart.
“Tell us a story about you and Terri Irwin,” Hughesy asked.
Laughing Russell quipped, "The reality break is though that I was great friends with Steve and his wife and his kids are really important to me."
"They’re beautiful people, Terri is one of the greatest women I’ve ever met in my life without their being implication for intimacy or whatever."
“You know I do love Terri Irwin, I love her kids and I love how she’s kept the memory of Steve alive and respected the work that the two of them had begun and she’s an absolute champion, but we’re not in a relationship,” he added.
In fact, good' ol Rusty is thankful for the rumours.
“You know what it does? It actually gets us on the phone every now and then which is a great service because we just talk and we laugh and then she catches me up on stuff and I catch her up on stuff."
Terri addressed the speculation earlier this month.
“He is very lucky to be embroiled in all of these great rumours,” she joked during an appearance on Access Hollywood.
“We are friends, so he did contact me and ask me if there was something I should let him know.”
“In all honesty, he and Steve became friends many years ago, and after Steve passed, you find out who your true friends are. And Russell has been very loyal as a great friend,” she mused.
The beloved Aussie also remarked that getting older has made him a “lot more relaxed” because “people start being kinder to you."
The should certainly help his plight for love.
Last year, Australia’s resident tough guy admitted to Sunday Style he was looking for "The One".
“There is a craving for some sort of intimacy in the future… and I’m not talking sexually; it is starting to grow inside me again,” he remarked.
“I really need that. I thought I could just tough it out and not worry too much. But you just want the feeling that you have someone you can make a plan with.”
Russell split from his ex-wife Danielle Spencer in October 2012 after nine years of marriage.
The couple, who share two sons Charles and Tennyson, are still firm friends with the 48-year-old even supporting her ex during the Sydney premiere of his new film.
With Rusty famously musing, “I have the responsibility of my two boys and I don’t want them thinking anything other than that their mum is the most perfect woman in the world," we expect their will be many female admirers heading his way!