Terry has strongly denied hurling a racist slur at Ferdinand during the stormy west London derby at Loftus Road on October 23.
"Police were notified of an incident on Sunday 23rd October involving alleged racial abuse," a Scotland Yard spokesman told AFP.
"This is currently being investigated by officers from Hammersmith and Fulham."
Police had earlier said only that they were assessing a complaint from a member of the public.
The claims against Terry emerged after video footage circulated on the Internet appearing to show the England star using racist language.
Terry denied abusing Ferdinand, saying the footage had been misconstrued.
Ferdinand on Monday spoke out for the first time about the row, saying he had "very strong feelings" about the incident which is also the subject of a Football Association investigation.
The ongoing saga presents English authorities with a potentially huge problem, coming only seven months after Terry regained the England captaincy after it was stripped from him in 2010 following revelations about his relationship with the ex-girlfriend of a team-mate.
The FA has also backed several anti-racism initiatives, most notably the Kick It Out campaign, and has regularly lodged complaints whenever the country's players have been the subject of racist abuse in international football, most recently during a September qualifier with Bulgaria.
Terry said he welcomed the FA investigation as it would allow him to clear his name.
The Chelsea defender claims that footage had caught him asking Ferdinand if he mistakenly believed he had racially abused him.
"I thought Anton was accusing me of using a racist slur against him. I responded aggressively that I never used that," Terry said.
Terry had also insisted he regarded the incident closed after he had spoken to Ferdinand in the dressing room following the game.
Source: AFP
Source: AFP