The Met released the enhanced footage of a possible key witness for the first time on Monday, 23 years after the murder in south-east London.
The CCTV showed a possible witness in an off-licence just hours before the fatal stabbing.
Stephen, 18, was murdered by six white youths in an attack in Eltham.
On Tuesday, the force said on Twitter: "Officers (are) now following up numerous calls and pieces of information received."
Gary Dobson and David Norris were found guilty of his murder and sentenced to minimum terms of 15 years and two months and 14 years and three months in January 2012.
The investigation into Mr Lawrence's death remains open.
The Met said the potential witness was in an off-licence on Well Hall Road in Eltham at 20:00 BST on 22 April 1993.
The off-licence was 300m (330 yards) from the bus stop where Mr Lawrence was attacked two-and-a-half hours later.
Witnesses saw a man in a "V" emblem jacket near Well Hall Road roundabout at about the time Mr Lawrence was attacked, the Met said.
Det Ch Insp Chris Le Pere said the CCTV was "recently identified as part of a regular internal review of the case", he said, and released as a public appeal after being digitally enhanced.
"We are hoping that over the passage of time allegiances may have changed, people may have moved away and feel more confident coming forward," he added.
Police investigating the racist murder of Stephen Lawrence are following up "numerous calls and pieces of information" after a new CCTV appeal.