The 22-year-old has been linked with a move to Chelsea, alongside Man United and a return to Man City having impressed with Ipswich.
Hasselbaink has major doubts about whether the young striker would be able to make a difference at one of the bigger clubs, however.
Speaking to SunSport, the former Chelsea ace said: "With Delap, I know big clubs are looking at him. Ipswich look like they are going down.
"He needs to stay in the Premier League. If he’s playing in a more established Premier League team, what can he deliver?
“t’s important that he plays. If he’s going to be second choice — if I’m his agent, I’d advise him not to go."
Delap has been a key player for Kieran McKenna’s side since joining last summer, scoring ten goals and providing two assists in his 31 games across all competitions.