Spurs have asked their supporters to be mindful of their use of the term, while visiting fans have been told by the Stamford Bridge club to refrain from anti-Semitic abuse
The term, which originated as a derogatory word to describe a person of Jewish faith, has been used to abuse Spurs supporters due to the origins of a section of the club's fanbase.
Tottenham fans have since adopted the term, however, and the police have indicated use of the word "under certain circumstances" will result in supporters being removed from the stadium.
"In particular they [the Metropolitan Police] will be monitoring for anti-Semitic abuse and offenders will be ejected," a statement on the club's official website reads.
The statement continues: "They have made it clear that this includes the use of the Y-word under certain circumstances - we should, therefore, like to ask all fans to be mindful of their use of this term."
Chelsea have also issued a statement warning fans over the use of anti-semitic chants towards Spurs fans.
"Tottenham supporters using the Y-word as a form of identity is not an excuse for abusive chanting," the club said.
"All forms of discriminatory behaviour and language are abhorrent and this includes the 'Y' word."