The track contains the lyrics: "Wait, can I really say the n-word? What up, my n***a, what up, my n***a? Bigs up, my n***a, we up, my n***a. You p**sy a*s, n****s, man, f**k y'all n****s. 'Cause I'm that n***a, n***a, n***a."
Following the video trending, the 15-year-old actor quickly apologised to fans, claiming the video was filmed last year and he was actually singing "neighbour" over the N-word.
"I would truly never say the N word and I'm not the type of person," Schnapp wrote. "I genuinely have never used that word in my like. Using the word 'neighbour' in that song was just something my camp friends and I did."
He continued: "I hope you all understand I could never even think about doing that. my friends also would never post a video, or support me, if I was saying that slur without hesitation."
"I apologise for using a replacement word. it is not my place to use one and I should of kept my mouth shut," Schnapp concluded. "I understand why it is found offensive and I am so sorry."