"Police were notified of an incident on Sunday 23rd of October involving alleged racial abuse. This is currently being investigated by officers from Hammersmith and Fulham," the Metropolitan Police said in a statement on Tuesday.
Terry has strenuously denied making a racist comment to Ferdinand, younger brother of the England captain's long-time international team mate Rio.
Terry was in Belgium on Tuesday where Chelsea play Racing Genk in a Champions League group match, but he was not in the starting lineup.