Hawking's family and estate representatives have said the women in the photograph were his long-term caregivers and emphasised that any suggestion of wrongdoing is unfounded.
According to reports, the image was captured at the Ritz-Carlton hotel on the Caribbean island of St. Thomas following a scientific symposium on quantum cosmology. Hawking had attended the event alongside a group of internationally recognised scientists.
The conference was funded and organised by Epstein in March 2006, months before the financier first faced legal charges in the United States. Participants reportedly spent time attending discussions, social gatherings and activities in and around the island, which is located near Epstein's private retreat, Little Saint James.
Other photographs from later years have also shown Hawking attending social events linked to the gathering, including a barbecue and a submarine tour exploring waters near the island.
A spokesperson for Hawking's estate said the scientist relied on continuous medical and personal assistance for much of his adult life due to motor neurone disease (ALS), which left him dependent on a wheelchair, ventilator and full-time care team.
The family maintained that the women seen in the photograph were part of that support system and criticised attempts to draw inappropriate conclusions from the image.
They stressed that Hawking's legacy lies in his groundbreaking contributions to physics and cosmology and that suggestions of misconduct are "far-fetched."
Hawking's name appears multiple times in documents linked to Epstein, which include communications, contact details and other materials connected to the financier's network. The resurfacing of the files has renewed public discussion about individuals who attended Epstein-funded events.
At the same time, there has been no formal accusation of misconduct against Hawking. He died in 2018 at the age of 76, more than a year before Epstein's arrest on sex-trafficking charges in 2019.