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Rangers have begun an investigation after a video showed fans allegedly chanting a racist song about Celtic's Japanese forward Kyogo Furuhashi.
The social media footage, from what appears to be a supporters' bus, emerged on Sunday when Rangers were in Dingwall to play Ross County.
Celtic say the video, if accurate, is "sickening and pathetic" and "deserves absolute condemnation".
The BBC has approached Police Scotland for comment.
A Rangers spokesperson said: "We are currently investigating to identify the individuals involved.
"Rangers condemns all forms of racism and discrimination.
"Those who partake in such behaviour are not representative of our club or the loyal support who have stood by us through thick and thin."
Since joining from Japanese side Vissel Kobe this summer, 26-year-old Furuhashi has scored six goals in seven games and become an immediate favourite among Celtic fans.
Celtic face Rangers at Ibrox next Sunday in the opening Old Firm derby of the Scottish Premiership season.
Celtic tweeted: "If reports are accurate then such sickening and pathetic racist behaviour directed towards Kyogo Furuhashi deserves absolute condemnation.
"Unfortunately, a number of Celtic players in recent years have suffered similar racist abuse.
"As a club open to all, we stand firmly against racism in all its forms and we will give Kyogo our full support. All stakeholders must work together in tackling all forms of bigotry."