Alejandro Burzaco is among 14 people accused by US prosecutors of paying and receiving millions of dollars in bribes.
Mr Burzaco had been president of sports marketing firm Torneos y Competencias.
He was freed on bail set at $20m (Â£12.7m), and is the third person to appear in court over the case.
Prosecutors allege the Argentine conspired to win and keep hold of lucrative media rights contracts from regional football federations by paying up to $110m (Â£72m) in bribes.
Mr Burzaco faces charges of racketeering and wire fraud conspiracy.
He disappeared after the case was launched in May, turning himself in to Italian police before being extradited to the US.
Jeffrey Webb, a former Fifa vice-president, and Aaron Davidson, another former sports marketing executive, who were both also among the 14 indicted in the US have also pleaded not guilty.
An Argentine businessman has pleaded not guilty in a US court over the corruption scandal that has rocked football's world governing body Fifa.