DMO Deejay was filming a promotional video while driving a Bentley near Piccadilly, central London, on 5 January when he was stopped by police.
The Independent Police Complaints Commission (IPCC) said it would "assess the rationale for the stop".
The Met said they were "fully cooperating with the investigation".
The footage was posted online by the DJ, who said he wanted to raise "awareness that this does actually happen".
In the film, the police officer told him it "isn't racist, it's fact" that "predominately, the criminal profile of people who do it are black people".
"Naturally if you see a car of black lads, maybe dressed in gangster-style clothing or whatever when they're driving down there, they're getting stopped" he said.
The video was circulated on social media and has been viewed more than 85,000 times.
IPCC Commissioner Cindy Butts said "all of the circumstances surrounding the stop" would be looked into.
"It is important for public confidence in policing that the matter is independently investigated," she said.
Scotland Yard has previously apologised to the London-based DJ.
The Met Police will be investigated over footage of a driver who was told it was a "fact" that black men who wear "gangster-style clothes" commit crime.