Liberal Democrat peer Lord Phillips of Sudbury has said that "many" Jews are "deeply prejudiced" although "not lacking in intelligence."
The peer was speaking as part of at a panel discussion on the Palestine Papers, held on Tuesday night at the University of London.
It was hosted by Middle East Monitor, a lobby group set up by Daud Abdullah, a signatory to the Istanbul Declaration.
In November 2010, Lord Phillips told a Palestine Solidarity Campaign meeting that "America is in the grip of a well organised Jewish lobby."
The peer agreed with fellow panellist, author Kathleen Christison, who said that America had vetoed last week's UN resolution condemning settlements, because of the work of the "Israel lobby".
He commented: "The world we are now moving into has been turned upside down. The Jews aren't lacking in intelligence, they may be deeply prejudiced, many of them, but they are going to be saying the same sort of thing as you on the panel are saying [about the Middle East after the Arab uprisings]."
To cheers from the audience, Ms Christison, who has previously worked as a CIA analyst, said she would like to see the Jewish state dismantled.
She said: "I have nothing against Jews, but I want the dismantlement of Israel as a Jewish state. The only way to get there is to talk about it.
"Nobody imagined apartheid would end either. What happened in those instances should be a model for a Jewish exclusivist government."
Other panellists included former BBC Middle East correspondent Tim Llewellyn, who called for a full boycott of Israel, Al Jazeera reporter Clayton Swisher and former Catholic priest Oliver McTernan, now director of the charity, Forward Thinking.
Jonathan Hoffman, co-vice chair of the Zionist Federation, who attended the meeting, said: "Lord Phillips is an obnoxious man and his views are revolting. It was a very intense and intimidating atmosphere."