The video, originally taken on Snapchat, was shared on social media platforms after Rangers’ 1-1 draw with rivals Celtic on Sunday afternoon.
It showed a fan using vile language to taunt Morelos as he filmed the Colombian ending his long wait for a goal against the Parkhead side.
A series of complaint saw authorities launch an investigation into the video’s origins and they have now arrested and charged a 17-year-old male.
A Police Scotland spokesperson said: "We've arrested and charged a 17-year-old male youth in connection with an offensive social media post during the Celtic v Rangers SPFL match yesterday.”
This comes after Rangers midfielder Glen Kamara was believed to be the victim of racist abuse during his side’s Europa League defeat to Slavia Prague. The Finn accused opposing defender Ondrej Kudela, who denies the charge.