Sky News said Green lunged at the camera before being heard to say “That’s going to go in the f****** sea” when confronted by reporter David Bowden on the Greek island of Ithaca.
As the TV crew approached him on the harbourside, close to where his £100 million superyacht Lionheart was moored, he told them: “I’m going to call the police if you don’t go away.”
Bowden had been attempting to ask him why he was holidaying in luxury as the last BHS high street stores closed down leaving workers facing an enormous pension deficit.
Dressed in a T-shirt and shorts, Sir Philip was shown saying: “Will you go away? Which bit are you not understanding? Go away.”
He then moved close to the camera. Bowden reported that the men later “calmly” shook hands.
Green has borne the brunt of the public fallout from the collapse of BHS, with caused the loss of 11,000 jobs. MPs branded him the “the unacceptable face of capitalism” in a scathing review of the high street disaster amid calls for him to lose his knighthood.
The Arcadia supremo, whose empire includes Topshop, owned BHS for 15 years before selling it to serial bankrupt Dominic Chappell for £1 in 2015.
Green has come under fire for taking more than £400m in dividends from the department store chain, leaving it with a £571m pension deficit, and for selling it to a man with no retail experience.
Administrators have already overseen 106 store closures over recent weeks.