A last-minute penalty from James Beattie earned the Blades a point in a game of two spot-kicks at Portman Road.
The visitors had good early possession but created little, while for Ipswich Pablo Counago hit a post and Alex Bruce powered a header inches off target.
Just before the break Matthew Kilgallon handled and Tommy Miller slotted the penalty into the bottom corner.
But, in the dying moments, Veliche Shumulikoski was also deemed to have handled and Beattie lashed in the kick.
Ipswich manager Jim Magilton told BBC Radio Suffolk:
"I think we can play better, but we had enough chances not to really rely on a penalty.
"They've got a real threat from set pieces and long throws, so we had to concentrate and keep our focus on that and I thought we dealt with that quite well."
Sheffield United boss Kevin Blackwell told the club's website:� "It was a strong, solid away performance that merited more than a point.
"We had four great chances in the first half and three more in the second. I thought we started well but got sloppy.
"We were waiting for the goal to happen when we should have been looking for it. But we played some good stuff and the lads showed plenty of endeavour."
Ipswich: Richard Wright, Volz, McAuley, Bruce, David Wright, Norris, Miller (Naylor 82), Shumulikoski, Ambrose (Quinn 75), Stead (Lisbie 90), Counago.
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