Townsend, who scored once and received one red card for Town, played in only three of their last six games.
Manager Roy Keane told the club website: "Andros has not had the minutes on the pitch that he needs lately so has gone back to Tottenham."
Ipswich's five other loanees - Rory Fallon, Jack Colback, Gianni Zuiverloon, Jake Livermore and Darren O'Dea - are all set to return to their parent clubs in January.
Source: BBC Sport
Source: BBC Sport