The tough-talking Texan stopped short of calling his media statement a mistake, but he said he regretted it because it didn't work. McGraw said he knew helping Spears wouldn't be "a cakewalk," but he was committed to do what he could.
"I haven't seen anybody else step up and try," McGraw said.
The Spears family called his public statements "a betrayal" after he said of Spears, "She is in dire need of both medical and psychological intervention."
His critics alleged that he was practicing without a license, which he gave up when to came to television.
"I know what it is to practice psychology," he said. McGraw added he makes it very clear people should not regard his advice a substitute for counseling.
Still, he said his words come from experience.
"When I retired my license, I didn't turn in 20-25 years of experience," McGraw said. "I just don't practice privately anymore."
McGraw added he is not opposed to criticism.
"I'm not above question. I'm not above criticism," he said. "And I get that."
However, tabloid rumors about Oprah Winfrey firing him and chastising his work are untrue, he said.
"People just report these things and they just aren't true," McGraw said.
In fact, Winfrey appeared in his 1,000 episode, where they discussed a myriad things.