President Trump’s longtime lawyer Michael Cohen secretly recorded a chat with Trump two months before the election in which they discussed payments to a former Playboy model who said she had an affair with the future president, reports said Friday.

The FBI seized the recording during raids of Cohen’s office, home and hotel room this year, according to The New York Times, which first reported the story.

The reported revelations on the recording — made in September 2016 during a face-to-face conversation — undercut Trump’s repeated denials that he had an affair with the model, Karen McDougal, or was involved in paying her to clam up.

The feds are investigating Cohen for, among other things, paying hush money to women, including porn actress Stormy Daniels and McDougal, to keep quiet about their alleged flings with the president.

McDougal sold the rights to her story to American Media Inc. (AMI), which owns the National Enquirer. The company is headed by David Pecker, a friend of Trump’s.

The tabloid paid her $150,000 but never published her story — a practice called “catch and kill” that kept salacious claims secret as Trump campaigned for the White House.

The Wall Street Journal reported on Friday that in the less-than-two-minute talk, Cohen told the then- Republican presidential nominee about the AMI deal and suggested they consider buying the rights to McDougal’s story themselves.

Trump appeared open to the idea and asked how to proceed and if he should write a check, the Journal reported, citing unidentified “people familiar with the matter.”

The newspaper said that others came in and out of the room as the men spoke, and that the tape cut off before the conversation was over.

McDougal claims she and Trump had a yearlong affair that began in 2006, shortly after his wife, Melania, gave birth to their son, Barron.

Rudy Giuliani, the president’s personal lawyer, confirmed to the Times on Friday that Trump had discussed hush-money payments with Cohen on the recording.

But Giuliani said no payment was ever made and added that the tape showed Trump did nothing wrong and proves he was not aware of AMI’s payment to McDougal.

“Nothing in that conversation suggests that he had any knowledge of it in advance,” he told the Times.

“In the big scheme of things, it’s powerful exculpatory evidence.”

He said Trump told Cohen that if Cohen were to make a payment related to McDougal, he should write a check so it could be documented.

Lanny Davis, Cohen’s lawyer, said the tape “will not hurt” his client.

“Any attempt at spin can not change what is on the tape,” he said.

Cohen’s lawyers discovered the recording while reviewing evidence seized in the raids and reportedly shared it with Trump’s lawyers.

After learning of the tape, Trump said, “I can’t believe Michael would do this to me,” according to CNN.

Cohen, long known as Trump’s fixer, had once said he would “take a bullet” for his boss. But, more recently, he has said his family and country come first, suggesting he was open to cooperating with special counsel Robert Mueller’s probe of Russian election meddling.

McDougal’s lawyer, Peter Stris, trolled Trump on Friday in a tweet addressed to the ex-Playmate.

“When @realDonaldTrump said we were lying, do you think he meant we WEREN’T?” Stris wrote, mocking Trump’s claim this week of having mistakenly said “would” instead of “wouldn’t” at a press conference with Vladimir Putin.

When the Journal revealed the AMI payment days before the election, then-Trump campaign spokeswoman Hope Hicks said, “We have no knowledge of any of this.”

Daniels’ lawyer, Michael Avenatti, who has claimed knowledge of Cohen’s recordings since May, said on Friday that Mueller has more.

“I know for a fact that this is not the only tape,” he told MSNBC.

The White House did not respond to a request for comment.