The song, which contains a line about taking a drunk girl home to “do some damage” and “take advantage”, has been accused of glamorising date rape.
The shoot was due to take place in Sydney, Australia, this week, but was scrapped by record company Universal.
According to reports, the video was going to be a parody of McFadden’s recent flight from Los Angeles to Sydney, during which it was alleged that he was drunk, became abusive to staff and smoked onboard the flight.
The 30-year-old Australia’s Got Talent judge – who was travelling with his “shock jock” pal, Kyle Sandilands – was reportedly escorted off the plane by Australian Federal Police when it landed in Sydney.
Insiders at Universal told Aussie newspaper, the Herald Sun that the record company did not want to create any fresh controversy.
The former Westlife star has since posted a message on Twitter, saying that he doesn’t want to profit from the song if people think it is about date rape, and that all proceeds from the single will now go to charity.
His wrote: “I do not want this song played on the radio or being sold to profit myself if people think it’s about ‘date rape’. It’s not about date rape.”