The 20-year-old has spent the season on loan at the League One side, helping them reach the play-offs.
Trotter is one of three Ipswich players out of contract this summer with Dan Harding, who is on loan at Reading, and Matt Richards also up for renewal.
"I had a chance to watch Matt play and train here and have taken some feedback from the staff at the club," he told Ipswich's official website. "It's been the same with Liam and Dan.
"They've obviously been away on loan but they've been watched and when the time is right, we'll meet up and make a decision from there."