The 20-year-old, who played 45 minutes in Spurs' League Cup defeat by Arsenal on Tuesday, is available for Saturday's Championship trip to Scunthorpe.
Town boss Roy Keane told BBC Radio Suffolk: "He's a talented boy, he has experience in the Championship.
"He's a player we've been interested in the last four or five weeks but we've had to be patient."
Livermore, who has a call-back clause in his Ipswich deal, spent much of last season out on loan, playing 16 times for Derby County before joining Peterborough United, where he made nine appearances.
He has featured in the Premier League once, playing against Stoke in March.
Keane added: "He was on loan at Peterborough and good noises came back from their staff, we came back with good stuff about his attitude.
"David Norris is on four yellow cards and we've got a young player Luke Hyam doing very well.
"But with the games coming up and potential injuries I think we just need that bit of cover."
The Town manager admitted the deal was easier to complete after Spurs were knocked out of the League Cup.
And with Chelsea, Liverpool and Manchester City also exiting the competition, there could be more loan signings heading to Portman Road.
"When some of the Premiership teams have a disappointing week in cup competitions they might want one or two of the youngsters to go out," said Keane.
"I've not been on the phone to those particular managers yet, but we'll deal with it over the next few days."
Source: BBC Sport
Source: BBC Sport