Supporters said they were angry at the way the Malaysian billionaire is running the club.
It follows his "resign or be sacked" ultimatum to manager Malky Mackay before a U-turn at the weekend.
Fans, many carrying banners, gathered outside Cardiff City Stadium chanting slogans against Mr Tan.
An estimated 500 people took part singing their support of Mackay and the club's traditional blue home colours, which the owner had changed to red before the start of last season.
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