The witness account – which has not previously been made public – appears to echo allegations made by Deborah Ramirez, one of three women who came forward after the judge was nominated by Donald Trump.
Ms Ramirez claimed she was at a party in the winter of 1983-4 when a freshman named Brett Kavanaugh pulled down his pants and thrust his penis towards her while other students laughed.
Her legal team gave the FBI a list of more than 25 people who may be able to corroborate her story, but none of them were interviewed and she was never asked to testify at last year’s confirmation hearings.
The latest claim – which relates to a different dorm party – comes from Max Stier, who now runs a non-profit organisation in Washington.
Mr Stier notified senators and the FBI during the confirmation process that he saw Mr Kavanaugh with his pants down before friends pushed the freshman’s penis into the woman’s hand.
However the FBI did not investigate his account, the Times reported. Both Mr Stier and Mr Kavanaugh refused to discuss the allegation with the newspaper.
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The Supreme Court Justice was sworn in last October despite testimony from Dr Christine Blasey Ford that he sexually assaulted her while they were both at high school in 1982.
Ms Ford alleged that Mr Kavanaugh drunkenly forced her down onto a bed, groped her, attempted to remove her clothes, and held his hand over her mouth so that she could not scream for help.
The judge vehemently denied the claims during his own evidence to the Senate Judiciary Committee.
Mr Kavanaugh was eventually confirmed in the senate by a vote of 50 to 48 as protesters shouted “Shame! Shame! Shame!” in the public gallery.