The Mexican forward arrived at White Hart Lane from Barcelona last summer but he has not been able to make the sort of impact fans would have wanted.
Dos Santos has struggled for form and fitness and has fallen down the pecking order since the appointment of Harry Redknapp, appearing only when key players have been rested.
He was linked with a move away from Spurs during the winter transfer window but maintained that he was keen to prove himself in the Premier League.
Redknapp has now decided to send Dos Santos out on loan to get some regular football under his belt.
The 19-year-old will stay at Portman Road until the end of Ipswich's Championship campaign and manager Jim Magilton will hope he can boost their bid for promotion.
Dos Santos could make his Town debut against Reading on Saturday if the paperwork is completed in time.
Tottenham allowed midfielder Adel Taarabt to join Queens Park Rangers on loan earlier on Friday.