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Lohan had posed in the designer jewellery, worth USD 45,000, for the spread of the magazine before it was stolen, Contactmusic reported.
The police have already confirmed they are investigating the actress in connection with the theft of jewellery.
Lohan has already denied any involvement in the theft through her representative has assured the police to co-operate.
And now the magazine chiefs have released a statement backing the 'Mean Girls' star.
"I can confirm on behalf of Elle magazine that items of jewellery went missing from an Elle photo shoot two weeks ago and the matter is now being investigated by the police.
Elle has no reason to believe that Lindsay Lohan was in any way responsible and has no further comment to make," the statement read.
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