The former Charlton man struck in the 54th minute with his fourth of the season as the Seasiders claimed their third home win in succession.
Blackpool manager Ian Holloway made five changes in total with Rob Edwards returning from suspension to replace the injured Ian Evatt and Joe Martin coming in for Stephen Crainey.
Stephen Dobbie, Neal Eardley and Euell were also handed starting roles as the Seasiders looked to bounce back from last week's defeat at Barnsley.
Ipswich boss Roy Keane was boosted by the inclusion of defender Gareth McAuley after he missed Northern Ireland's friendly away to Albania in midweek because of a groin injury.
Striker David Healy played for Nigel Worthington's men against the Albanians but could make the bench for the Tractor Boys at Bloomfield Road.
The match was a sell-out due to a ticketing initiative and, with a vociferous home crowd behind them, Blackpool began brightly.
In the eighth minute an inswinging corner from Eardley from the left flank but McAuley did well to power a defensive header clear.
Moments later, Blackpool threatened again when free-scoring midfielder Charlie Adam crossed dangerously and Edwards nodded a wide from 12 yards.
Ipswich gradually established a foothold on proceedings and in the 14th minute Jonathan Walters drilled a ferocious 25-yard shot over the crossbar.
Two minutes later, the pendulum swung back in Blackpool's favour and Dobbie hit a right-footed shot from 18 yards which Carlos Edwards did well to block.
Dobbie and Euell then fired just wide from distance before Adam went even closer with a 25-yard strike that warmed the hands of Ipswich goalkeeper Brian Murphy.
Adam, 24, has been in outstanding form this season and his 13 goals have attracted admiring glances from several higher-placed clubs.
However, Ipswich almost caught Blackpool out in the 27th minute when Daryl Murphy scooped a shot over the bar from 12 yards out.
Shortly before the half-hour mark, Adam went closer still with a blistering drive from 25 yards that saw Murphy tip the ball around a post.
In the 36th minute, Jaime Peters drew a similarly impressive stop from Blackpool goalkeeper Matthew Gilks as his 20-yard effort was tipped to safety.
Edwards was particularly lively for Ipswich as the interval approached and went close twice before team-mate David Norris drew another smart stop from Gilks with a 20-yard strike.
The breakthrough arrived nine minutes after the restart when Euell was given the space inside the Ipswich penalty box to rifle home a right-footed volley into the bottom corner from six yards out.
Ipswich sought an immediate response but Walters headed wide from six yards and Murphy fired over the bar.
Keane made a double substitution in the 66th minute, replacing Murphy and Edwards with Healy and Connor Wickham.
And the move almost had the desired effect as Liam Rosenior and Jack Colback went close before Damien Delaney fired over when well placed.