In a series of video clips, Trump is shown saying "Look at my African American over here!" and "I have a great relationship with the blacks. I've always had a great relationship with the blacks."
At the same time, the ad raises the issue of federal lawsuits accusing Trump and his companies of housing discrimination against black applicants.
It will air in Florida, North Carolina, Ohio and Pennsylvania, key swing states.
The ad comes a day after the Democratic presidential nominee highlighted Trump's "long history of discrimination" and denounced him for giving a national platform to racist and anti-Semitic conspiracy theorists.
"A man with a long history of racial discrimination, who traffics in dark conspiracy theories drawn from the pages of supermarket tabloids and these kind of white supremacists, white nationalist, anti-Semitic groups should never run our government or command our military," Clinton said on MSNBC's "Morning Joe" on Friday.
She warned that Trump poses a unique threat and said that he has taken "fringe groups" and tried to make them mainstream. The message, like the ad, is targeted at voters across the political spectrum — an effort by Clinton and her campaign to highlight Trump's most controversial statements.
"I am reaching out to everyone, Republicans, Democrats, independents — everyone who is as troubled as I am by the bigotry and divisiveness of Donald Trump's campaign," Clinton added. "This is not a normal choice between a Republican and a Democrat."
In an interview on Thursday night, Trump responded to Clinton's speech, denying that he had discriminated against black applicants in the 1970 case.
"Well, it's an incorrect statement. First of all, we were sued many, many years ago, when I was very young, by the government, [which] sued many, many companies. You know that. It wasn't me. They sued many companies," Trump told CNN's Anderson Cooper.
When Cooper asked if the applications of black prospective tenants were marked with a "C" for "colored," Trump said that he didn't know.
"I don't even know," Trump said. "Honestly, what a superintendent does in a building, that I can't tell you. But I can just tell you that they settled the case and that was the end of it. It was many years ago."