Juvian Rodriguez, 35, was arrested around 1:20 p.m. inside the station.
Police say Rodriguez and the officer, who was working undercover, were on an escalator near 7th Avenue and 32nd Street going into Penn Station.
Rodriguez allegedly told the officer to "go back to China before you end up in the (expletive) graveyard" and then threatened to stab him in the face.
Rodriguez is charged with harassment as a hate crime, aggravated harassment based on race or religion, menacing as a hate crime, and criminal possession of a controlled substance.
After his arraignment Saturday, the judge gave Rodriguez supervised release.
He's scheduled to be back in court in May.
This is the second arrest in just two weeks by the new team of undercover officers as part of the NYPD's Hate Crimes Task Force.
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