Confirming the news to the Official Club Website, Town Chairman David Sheepshanks said: "Like all Town fans I am delighted that Dean has pledged his future to Ipswich Town. It shows our determination and commitment to secure our best young talents for the long term benefit of this football club.
"Like Ian Westlake, Dean has developed through our highly successful Academy system and we can now look forward to him progressing as a footballer at Ipswich Town over the next three and a half years."
Meanwhile Town boss Joe Royle was just as delighted on the new contract for his 18 year old striker: "It great that one of the best young talents Ipswich Town has seen for many years has pledged his future to the Club."