The high-flying Tractor Boys were totally outplayed in the opening 45 minutes and fell behind to David Mirfin's looping header on the half hour.
Sam Togwell lifted a long ball back into the area after a corner had been cleared and Mirfin was left unmarked to nod a looping header over Marton Fulop.
But substitute Jaime Peters grabbed a fortuitous equaliser 12 minutes into the second half when Cliff Byrne's attempted interception ricocheted off the winger who was left with a simple finish from 12 yards.
Ipswich then saw several chances go begging as they piled forward in search of a winner and Scunthorpe also threatened to register a second goal in an enthralling finish to the match, but both sides had to settle for a point.
Source: PA