Kapoor is joined by artists like Mark Wallinger, Bob and Roberta Smith and Tom Phillips in the parody on the South Korean rap sensation Psy's now famous dance track video.
"Our film aims to make a serious point about freedom of speech and freedom of expression," says Kapoor.
"It is our hope that this gesture of support for Ai Weiwei and all prisoners of conscience will be wide-ranging and will help to emphasise how important these freedoms are to us all" said the 58-year-old London based artist in an accompanying statement.
In the video Kapoor is seen wearing a bright pink shirt with rolled up sleeves dancing goofily. He dons dark glasses, handcuffs and has scenes where black tape seals his mouth.
Choreographer Akrman Khan toggles between Kapoor and incorporates scenes from a similar film made by Ai Weiwei, which was also based on Psy's video and was released earlier this year.
Weiwei's version featured him waving handcuffs in criticism of Chinese government's actions in arresting and detaining him for more almost three months last year. His video was removed from sites in China.
Kapoor's video incorporates contributions from global institutions including the MoMA, Guggenheim, New Museum, Brooklyn Museum, Whitney Museum of American Art, the Museum and Sculpture Garden in Washington, the Philadelphia Museum of Art and Museum of Contemporary Art San Diego.
Artists Helen Bamber, Hanif Kurieshi and many others are also seen in Anish Kapoor's film that was shot in his London studio and released online yesterday.
"We are doing this Gangnam style video... in support of Ai Weiwei and many many other prisioners of conscience, dissidents etc," said Kapoor in an audio message.
"In an age when governments are afraid to speak... in Europe we have hard economic times perhaps that is the reason governments will not raise the hands they
earlier, it is upto us individuals to make a difference this is a wonderful way to make a deep political statement and have some fun," said the artist.
The Mumbai-born artist who is known for his awe-inspiring sculptures and who had created the ArcelorMittal Orbit for the 2012 Olympic Park in London said, "sometimes in this sort of idiotic way we can do much more serious things than we do when we are apparently serious."
Kate Allen, Director, Amnesty International UK said, "This is a rousing and captivating way to bring some serious fun to a serious issue, Anish Kapoor style."