The man has been banned from Chelsea's ground pending the outcome of the police investigation, the club said on Tuesday night.
A spokesman said: "Chelsea Football Club has banned a 28-year-old man from Stamford Bridge pending the conclusion of a police investigation into a possible racially aggravated public order offence.
"The man is not a current Chelsea FC season ticket-holder or member.
"Chelsea is co-operating fully with the police as they carry out their investigation."
The man was arrested on Monday after attending a west London police station by appointment.
Scotland Yard said he was held on suspicion of a racially aggravated Section 4a Public Order Act offence. He was later released on bail until November 29.
Detectives have been investigating a complaint regarding alleged racist behaviour at Stamford Bridge on October 31 during Chelsea's Capital One Cup win over United.