The 35 year olds contract comes to an end at the end of the season, and there is a built in clause in his contract which states, depending on the number of games he plays, he may get a second year at Portman Road.
Speaking to the EADT, McAuley said: "He is a top professional and a nice man. And he's a class act who even when not playing has helped with our defensive organisation.
"Ivan has a wealth of experience that could be vital having played at the top level and internationally as well.
"He loves to see the game played the right way, in the right fashion, and from my point of view I can see him going into coaching.
"He's a character and there are not too many around like him and it would be nice to see him go into the coaching side of the game."
You can find a full player profile of Ivan Campo, along with stats of every game he has played in this season by clicking here.