The goalkeeper has struggled to establish himself as the regular No.1 at Portman Road since arriving from Watford in 2012, and has largely provided back-up to Dean Gerken this season.
He has been placed on the transfer list and accepts that a departure is the most likely outcome, but has not ruled out playing for Mick McCarthy's side again just yet.
"Although the gaffer has said I can move on, nothing is set in stone just yet," the 25-year-old told the club's official website.
"I won't write off playing for Ipswich again just yet because you never know what happens in football, but it looks as if my time here is coming to an end."
Loach is grateful for everything that Ipswich have done for him and is now considering his options for future.
"I just want to say thank you to everyone at the club, the gaffer, the players and all the fans who have been absolutely superb with me," he added.
"I've had a brilliant time at Ipswich Town. I remember sitting in the stands as a kid dreaming of playing for the club and I've been fortunate to have fulfilled that dream.
"Wherever that has been successful or not, that's up to people to make their own minds up. All I know is that I've lived my dream and it's been an honour to play for Ipswich Town.
"The club is heading in the right direction and everybody connected to Ipswich is a credit to the club. They all deserve a big future ahead."