Benetton Treviso have suspended a player after prop Cherif Traore was given a rotten banana in the club's anonymous Secret Santa gift swap.
The United Rugby Championship have asked Benetton Treviso for a "full report" about the incident.
And the Italian Rugby Federation (FIR) says an investigation has been started.
"The FIR informs that the federal prosecutor has launched the investigations necessary to ascertain the facts, as well as the collective and individual responsibilities, to protect the founding values and reputation of the game," said a joint statement from the FIR and Benetton Treviso.
"Benetton Rugby has simultaneously decided to suspend one of its members as a precaution, for the entire duration of the investigations by the public prosecutor's office."
Benetton Treviso's squad and the player who gave him the banana apologised to Traore after being summoned to the club's training ground.
A URC statement said: "Benetton Rugby has been asked to provide a full report on what has occurred and what meaningful action will be taken as a result.
"Racism and discrimination of any kind are abhorrent, completely unacceptable in society and are utterly counter to the values of the sport of rugby and the United Rugby Championship."
Benetton Rugby previously issued a statement saying they have "always condemned with the utmost firmness any expression of racism and/or form of discrimination" before they called their players to their training ground.
"The meeting was an opportunity to discuss and understand how what one of my team-mates did when exchanging Christmas presents is purely the result of idiocy and nothing other," Traore said.
"I appreciate and accept his apology and that of the entire team. I'm happy with the gesture and I'm sure what happened will make the group even more solid.
"We are a family and as such we will continue to commit ourselves on and off the pitch, fighting, as we always have, against all forms of discrimination."