The AFL has confirmed its integrity unit is now investigating the circulation of a photograph of a topless woman wearing a Richmond premiership medal after Victoria Police stopped its probe into the matter.

Police had been investigating a Richmond player over the topless photo, which was distributed on social media after the club's premiership win on September 30.

Richmond premiership medal

The AFL has requested that the privacy of the parties involved in the matter be respected.

"The AFL Integrity Unit are now investigating the matter," an AFL spokesman said on Wednesday.