He told the club website: "I've been here since I was 12 and feel I'm at the right club to progress as a player. I'm enjoying my football here."
New Ipswich boss Paul Jewell added: "Connor is a terrific prospect although we have to remember he's still only 17. He's got a lot of learning to do but he's got a good attitude and has shown he wants to do that.
"I'm looking forward to working with him and hopefully one day he will be playing in the Premier League - with Ipswich Town."