The Manchester United legend was dismissed by owner Marcus Evans with the Tractor Boys sitting 19th in the Championship after a run of seven defeats in nine games.
Keane's exit comes after five managers were sacked in the first FOUR days of 2011.
Charlton's Phil Parkinson, Walsall's Chris Hutchings and Stockport's Paul Simpson were all axed on January 4, while Crystal Palace's George Burley and Barnet's Mark Stimson were booted out on New Year's Day.
In all, 23 managers have now lost their jobs this season.
Another one bites the dust: Roy Keane's time at Ipswich is up
Managerial departures this season August 9 - Martin O'Neill (Aston Villa) August 12 - Steve Coppell (Bristol City) August 14 - Kevin Blackwell (Sheffield United) August 19 - Chris Turner (Hartlepool)August 30 - Alan Pardew (Southampton)September 12 - Nigel Adkins (Scunthorpe)September 29 - Chris Sutton (Lincoln)October 1 - Paulo Sousa (Leicester)October 4 - Simon Davey (Hereford)October 18 - Gordon Strachan (Middlesbrough)October 24 - Craig Short (Notts County) December 6 - Chris Hughton (Newcastle)December 13 - Sam Allardyce (Blackburn)December 14 - Gary Speed(Sheffield United)December 15 - Paul Trollope (Bristol Rovers)December 29 - Brian Laws (Burnley)December 29 - Darren Ferguson (Preston)January 1 - George Burley (Crystal Palace)January 1 - Mark Stimson (Barnet)January 4 - Chris Hutchings (Walsall)January 4 - Phil Parkinson (Charlton)January 4 - Paul Simpson (Stockport)January 7 - Roy Keane (Ipswich) Club-by-club Premier League guide to every transfer deal in summer 2010Click here to check our stats zone for all the big leagues across the globe
Explore more:People: Martin O'Neill, Steve Coppell, Kevin Blackwell, Chris Hughton, Paul Trollope, Gary Speed, George Burley, Paul Simpson, Roy Keane Places: Bristol, Newcastle