"It's a classic tribute inspired by the original Tom Kelly nude pictorial of Marilyn Monroe, a portion of which was the original playmate which was in the original issue of Playboy," Hefner told The Insider's Brooke Anderson.
As RadarOnline.com previously reported, Lindsay's photo spread had to be re-shot after Hef wasn't pleased with the quality of the first batch.
"The pictures Lindsay took last week are much better than the first set," a source exclusively told RadarOnline.com on Monday.
"The final decision gets made by Hef on which pictures go in the magazine," the source added.
Lindsay's Playboy spread will appear in the January/February 2012 issue of the iconic men's magazine, scheduled to come out in late December. The issue will also feature an in depth interview with the 25-year-old troubled starlet.
You can watch Hefner's entire interview Tuesday, November 8 on The Insider.