The short film shows a girl spitting at MK Tibi as he is escorted by security guards out of the auditorium and loud singing of Israel's national anthem is heard in the background.
Although Tibi had not filed an official complaint, the police decided to launch an investigation into the incident on Monday following the video published by Ynet.
The incident took place Sunday during a debate between Tibi and MK Arieh Eldad (Otzma LeYisrael). Arab students claimed that at least three people had spat at Tibi, while Jewish students said just one girl had done it.
Police and the university's security guards arrived at the scene to restore order.
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Guards escorted Tibi through a side room for his protection, after an Arab student apparently tried to assault another student and was removed from the debate hall. Several students yelled at Tibi: "You're a child murderer, go to Gaza, go to Syria. That's the place for you."
Tibi said in response to the incident, "I will not be daunted and will go anywhere, even if there are racists there. I will make my voice and that of the Arab public be heard with my head held up high."
'No wonder it happened in Bar-Ilan'
MK Eldad blamed Tibi for the commotion: "During the debate spirits ran high and most students probably couldn't tolerate Tibi's tone and his claim of ownership to the land of Israel and rejection of the right of the Jewish people to a democratic state.
"It was brought to my attention that one of the students apparently poured some water over him and was arrested by the university's security forces. If that is the case we denounce the use of violence on both sides and condemn any attempt to harm MK Tibi."
Knesset Speaker Reuven Rivlin said Monday in response to the video, "I condemn any attack on an elected representative and attempt to disrupt his ability to fulfill his mission. In a conflicted country like this we must firmly defend the right to a proper democratic debate.
"I was glad to hear MK Eldad's condemnation, and I commend Bar Ilan-university for its resolved response to this illegitimate act and its plan to punish those involved."
Ta'al Secretary-General Attorney Osama Saadi said that the spitting incident was a serious act and that the university had failed in protecting the MK.
"What we saw was wild behavior on the part of students in a campus which invited MK Tibi to lecture. The insane right is fed by the incitement of right-wing politicians inciting against Tibi and against the Arab public's leadership in light of the radicalization of the ruling party led by Netanyahu and Lieberman, who are keeping quiet in light of the dangerous wave of incitement."
Saadi added, "It's no wonder that this serious and violent incident took place in Bar-Ilan, where the murderer of former Prime Minister Yitzhak Rabin came from. MK Tibi will continue going anywhere to voice his opinion and speak on behalf of the Arab public, proudly and without fear.
"This is the ugly face of the Israeli political system on the eve of the elections. We demand a comprehensive probe by the university management and the police into what happened."
Moran Azulay is a Ynet and Yedioth Ahronoth reporter