The 21-year-old Scottish winger, who is on a season-long loan from AFC Bournemouth, was also on target as the Tractor Boys came from 2-1 down to salvage a point at Portman Road.
Bristol edged ahead three minutes later through a fine individual effort from Jonathan Kodjia but Fraser managed to get Ipswich back on even terms again when turning home Freddie Sears' 86th-minute attempt from close range.
Check out Fraser's goal from 1:50 below:
Fraser, who has now scored three Championship goals and four in all competitions for Mick McCarthy's men, also took him MOTM honours.
Winger @RyanFraser94 was voted as man of the match by our sponsors today, here he is in conversation with @Milts25pic.twitter.com/aKWVCS0Gf6
— Ipswich Town FC (@Official_ITFC) September 26, 2015