Today, the Commons culture, media and sport select committee released the findings of its investigation into the hacking affair, which resulted in the closure of the Sunday tabloid last July.
The report found that Myler, Hinton and News of the World legal affairs manager Tom Crone had misled the MPs in their evidence given to the committee.
The MPs said that Myler and Crone "gave repeated assurances that there was no evidence that any further News of the World employees, beyond Clive Goodman, had been involved in phone-hacking".
"This was not true and, as further evidence disclosed to us by the newspaper's solicitors Farrer & Co now shows, they would have known this was untrue when they made those statements," said the report.
"Both Tom Crone and Colin Myler deliberately avoided disclosing crucial information to the Committee and, when asked to do, answered questions falsely."
But Myler, who is now editor of the New York Daily News, said in a statement today: "While I respect the work that the select committee has carried out, I stand by the evidence that I gave the committee.
"I have always sought to be accurate and consistent in what I have said to the committee.
"The conclusions of the committee have, perhaps inevitably, been affected by the fragmented picture which has emerged from the various witnesses over successive appearances and by the constraints within which the committee had to conduct its procedure.
"These issues remain the subject of a police investigation and the Leveson judicial inquiry and I have every confidence that they will establish the truth in the fullness of time."
The most stinging criticism in the report was reserved for Hinton, who acted as executive chairman of News International, parent company to the News of the World, from 1995 to 2007, when he was succeeded by James Murdoch.
However, Hinton - who resigned from Rupert Murdoch's Dow Jones Company in July 2011 - said that allegations he was complicit in a phone hacking cover up were "unfounded, unfair and erroneous".
"I have always been truthful in my dealings with the committee and its findings are unfounded, unfair and erroneous," said Hinton in a statement.
"I am shocked and disappointed by the culture, media and sport select committee's allegations that I have misled Parliament. I will be writing to John Whittingdale, the chair of the committee, to object formally."
In compiling the report, the cross-party committee of MPs disagreed over the inclusion of a statement that Rupert Murdoch was 'not fit' to run an international company due to his 'wilful blindness' of employee malpractice.
Despite opposition from Tory members, the report said that "at all relevant times Rupert Murdoch did not take steps to become fully informed about phone hacking, he turned a blind eye and exhibited wilful blindness to what was going on in his companies and publications".
It continued: "This culture, we consider, permeated from the top throughout the organisation and speaks volumes about the lack of effective corporate governance at News Corporation and News International.
"We conclude, therefore, that Rupert Murdoch is not a fit person to exercise the stewardship of a major international company."
As the Tory MPs refused to endorse the report, it will remain 'partisan' and not be recommended to the House.
However, media regulator Ofcom said that it will "consider the report" in its investigation of whether Murdoch and News Corp are 'fit and proper' to own 39.1% of pay-TV giant Sky.
In a statement, News Corp said: "News Corporation is carefully reviewing the Select Committee's report and will respond shortly.
"The company fully acknowledges significant wrongdoing at News of the World and apologises to everyone whose privacy was invaded."