The feisty forward was seen having coffee with Mitchell in Melbourne's Docklands on Thursday, a month after being given explicit instructions by the Richmond Football Club to cut ties with the bikie leader.
The pair were then seen having a lengthy chat on the footpath before hugging as they left.
Channel Seven approached King as he left training on Friday morning but he refused to comment.
King met with club officials in December after defying a previous order to stay away from members of a bikie gang.
King was spotted at the Legends Football League fixture at AAMI Park, a controversial sporting event which features American football played by scantily clad female athletes.
In the photograph King is seen sitting with a group of friends and former Bandidos chief, Toby Mitchell. Onlookers told News Ltd the pair looked like "the best of mates" at the game.
The Tigers star was instructed by the club several months ago to end his association with Mitchell.
Last season King invited Mitchell into the locker rooms during Richmond's clash with Brisbane in round 20, leading to concerns from the club that contact with former criminals could be a bad influence on King and the team.
"Jake has been counselled specifically on that issue and our playing group are counselled more broadly about off-field issues," Richmond told media.
According to reports, the most recent sit-down with King over the issue is the second instance he's needed to be warned about befriending Mitchell.