Amanda Bynes has sparked engagement rumors thanks to a flashy bit of bling on her ring finger ... but we've learned the truth about her relationship status.

A source close to the former Nickelodeon star tells TMZ ... she is not engaged, and the ring in question is merely a bit of jewelry ... so, folks need to stop hearing imaginary wedding bells.

Chatter about Amanda's love life began to swirl after the "She's the Man" actress was spotted Saturday in Los Angeles wearing what appeared to be a huge diamond ring on THAT finger.

Check out the pic ... the diamond looked to be legit, especially as Amanda rocked a fresh set of nails for her outing in the City of Angels.

Not to mention, Amanda notably did not wear the sparkler the last time we saw her 2 weeks ago ... so, we can understand why fans were quick to think some mystery man had popped the question.

Alas, it appears Amanda is focusing on herself and her growing art career these days. The retired actress hasn't publicly dated anyone since splitting from her ex-fiancé, Paul Michael ... which, as you know, ended just before she was checked back into a mental health facility in 2023.

Amanda knows "What a Girl Wants" right now ... and that's to be single.