Published Friday, 10 February 2012
This comes after an Irish News article published on Friday suggested that the report will concede partial academic selection in Catholic schools.
While the Church is against academic selection, Catholic grammar schools in Northern Ireland have fought a long battle in favour of the use of 11-plus style tests.
Mr O Dowd spoke to UTV at the unveiling of a brand new £22million school for Our Lady and St Patrick's College in east Belfast.
He said: "Let's await the publication of the Catholic Commission's Report before we come to any judgment on what the contents of the report are.
"My view is the time for fine words is over - it's now time for action."
Catholic education - and other types of education - is "a much broader subject than simply grammar schools," he said.
The Sinn Féin minister added that "all voices had to be heard equally in the debate going forward."
Dermot Mullan, principal of Our Lady and St Patricks College, said that while he acknowledged different views, he favoured giving parents options.
"I believe that if parents want to have an academically selective school then they should be allowed to have that. If parents don't want that, there has to be an alternative - just as there has to be provision for Irish medium, the integrated sector, for all sorts of sectors."
He added: "I believe that the more choice parents have the better the education we will have for their children."
The body charged with producing a blueprint for Catholic post primary schools was not available for comment.
Its report is expected to explain what place selection will have in the new era for Catholic education.
© UTV News