The incident at Tynecastle Stadium happened during Hibs’ 2-1 win over Hearts on Saturday and was reported to police on Monday.
Police Scotland said a 19-year-old man has been arrested and charged over the incident and will appear in court at a later date.
It takes the number of people charged following the match to four.
Earlier this week, it was confirmed that a 38-year-old man was arrested in connection with the use of racist language, while another 19-year-old was arrested over a flare being thrown and a 16-year-old boy was arrested in connection with a coin being thrown.
Following the latest arrest, Inspector Kieran Dougal of Wester Hailes police station, said: “These crimes are committed by a small minority intent on ruining a great atmosphere. Thankfully these types of incidents are very rare and are not a reflection vast majority of fans who attend football matches.
“However in order to protect everyone, we need all hate crimes to be reported to us. If you have been a victim of a hate crime you can report this to Police Scotland via 101.
“Alternatively you can report a hate crime through a third party. More details can be found on the Police Scotland website.”