Updated Sunday, 8th January 2012
The man, from Aintree, was arrested on Saturday by Merseyside Police, who are investigating the incident which took place in the second half of the match at Anfield on Friday night. Late in the FA Cup third-round fixture, the 20-year-old, on loan from Norwich, appeared to take offence at something shouted from the Kop.
A police spokesman said the suspect, who was arrested on suspicion of a racially aggravated public order offence, has been released on bail pending further inquiries.
Gordon Taylor, chief executive of the Professional Footballers Association, said he had spoken to Adeyemi about the incident.
He said: "We can confirm that he was the victim of racist abuse towards the end of the Liverpool v Oldham FA Cup tie last Friday evening.
"This abuse came from a spectator sitting in the Kop section of the ground.
"Tom has given a full witness statement to the Merseyside police regarding the incident and will continue to assist the police fully in their enquiries."
Despite reassurance from his team-mates and Liverpool players Dirk Kuyt and Steven Gerrard, right-back Adeyemi seemed close to tears following the incident.
There then appeared to be discussion between the fourth official and a police officer down by the tunnel while the match was continuing.
Liverpool, who won the match 5-1, said they were also investigating the incident.