Vanilla spoke to reporters as he left the Palm Beach County Jail in Florida following accusations that he stole furniture, a pool heater and bicycles from an abandoned house.
The rapper, who starred in the 2011 series of DOI, told NBC 6 South Florida: "It's all a misunderstanding right now, it's all out of proportion."
He added: "Listen guys, it will all get cleared up, you'll see."
The rapper - real name Robert VanWinkle - was said to be doing up a property in Florida for his TV show, The Vanilla Ice Project, in December when items from an adjacent and abandoned house went missing.
According to TMZ, Vanilla voluntarily met with police and provided a statement.
A spokesperson for DIY Network, which airs Vanilla's show in the US, said: "DIY Network has been made aware of the situation and is currently looking in to the matter."
Vanilla Ice, 47, found fame in 1990 after releasing the hit song 'Ice Ice Baby'. He has been married to wife Laura since 1997 and the couple have two children together.
In January 2010, Vanilla made a big comeback at the National Television Awards in London where he duetted with Jedward on their track 'Under Pressure (Ice Ice Baby)'.
The following year, he signed up as a celebrity contestant on ITV1's Dancing On Ice.
Vanilla was the sixth star to be eliminated from the series, which was eventually won by former EastEnders actor Sam Attwater.
Reveal is now on Google Plus! Join us here for the latest pictures, fashion and celebrity news!