Henry was dismissed as the director of the 1989 Disney dog film, with rumours swirling for years that he and the "Apollo 13" star had clashed on set.
This made for an awkward moment at Sunday's (January 19) SAG Awards as a camera cut to the "Barry" actor when a clip from "Turner & Hooch" was shown during a career spanning montage celebrating Tom receiving the Cecil B. DeMille Award.
Denying they are at odds, Henry told TMZ.com: "I don't have a feud with Tom Hanks."
Explaining that they had spoken on the night, he added: "I just saw him at our SAG Awards. It was beautiful."
The 74-year-old also said that "sure" he would want to work with Tom again, despite the fact that teaming up on Turner & Hooch did not work out for him.
Henry said that he and Tom had in fact been friends for "years" and that he had also enjoyed working with the two-time Oscar-winner's wife, Rita Wilson.