The song was called Dindu Nuffin which, according to the BBC, is a term used to make fun of African American people who commit crimes or are the victim of police brutality.
The footage reportedly shows Doja Cat making sexual comments to men who are allegedly part of the incel community, a subculture of white supremacists who are involuntarily celibate.
"I want to address what's been happening on Twitter," the star wrote on Instagram.
"I shouldn't have been on those chat room sites, but I personally have never been involved in racist conversations. I'm sorry to everyone that I offended.
"I'm a black woman. Half of my family is black from South Africa and I'm very proud of where I came from."
"As for the old song that's resurfaced, it was in no way tied to anything outside of my own personal experience," she wrote.
She went on to say that she takes her influence "very seriously" and apologised for "upsetting or hurting" any of her fans.
In addition to the Instagram post, the star also played 98 video apologies during an Instagram Live. According to the BBC, she denies any connection to the lyrics of Dindu Nuffin to African American woman Sandra Bland, who died in police custody.
She also denies calling Beyonce "Beyonkey" after a video emerged of the star appearing to insult the singer, the LA Times reports.
She called Beyonce one of the "driving forces" behind her career.
"Beyonce is undeniably talented, and every time anyone has ever come for Beyonce I was there. And that's all I have to say."