According to the Daily Mail, the watchdog received 11 complaints about Derren Brown: Hero At 30,000 Feet.
The criticisms were reportedly aimed at a scene during the programme in which Brown dressed a man in a straitjacket and tied him to a railway track. The volunteer escaped the restraints moments before a train arrived.
Ofcom is now allegedly investigating the show to determine whether it broke broadcasting regulations.
The regulator is said to be focusing on whether the scene provided "adequate protection for members of the public from the inclusion in such services of harmful or offensive material" or whether it included material "which condones or glamorises violent, dangerous, or seriously antisocial behaviour and is likely to encourage others to copy such behaviour".
However, a spokesperson for Channel 4 told BBC News: "The railway track challenge was one of many confidence-building experiences within the show which prepared [the volunteer] Matt for the finale. For all the experiences the programme-makers have procedures in place to ensure the contestants' welfare is protected.
"We would never recommend that viewers recreate any of the events in the programme."