Wednesday was 12 months to the day since Pearson came back to City, having previously been in charge between June 2008 and June 2010 before leaving to take over at Championship rivals Hull.
Last November, Leicester won 3-0 at home against Crystal Palace in Pearson's first game back after rejoining the club from the Tigers, and he saw his side double that tally against a poor Ipswich team.
Four goals came in the first half. David Nugent opened the scoring from the penalty spot after eight minutes and doubled Leicester's lead with his second strike 10 minutes later.
The superb Lloyd Dyer got on the scoresheet just before the half-hour mark and Anthony Knockaert netted two minutes before the break.
Martyn Waghorn scored another for the Foxes shortly after half-time and substitute Marko Futacs completed the rout in the 82nd minute.
Ipswich made a sloppy start. Hesitancy between Stephen Henderson and Orr saw neither take command following Danny Drinkwater's throughball, resulting in the goalkeeper bringing down the alert Dyer inside the area. Nugent converted the spot-kick with aplomb.
Henderson could then only parry Waghorn's fierce shot into the path of Nugent, who got his reward for following up by chesting the ball home from close range.
Leicester were playing lovely football and it only seemed a matter of time before they got another goal and on 27 minutes Lloyd Dyer gave Orr a torrid time down the left, beating him with pace before firing a powerful shot past Henderson and into the far corner of the net from 15 yards out.
Knockaert then swept home Dyer's first-time cross from 12 yards in the 43rd minute.
Luke Chambers headed over in a rare Ipswich attack at the start of the second half and Waghorn missed the target with a header at the other end.
However, the England Under-21 international striker got on the scoresheet after 53 minutes, curling the ball past Henderson after being put through by King.
More brilliance from Dyer down the left saw Futacs, on as a 74th-minute replacement for Waghorn, score his first league goal for the Foxes. The Hungarian made it 6-0 with a lovely first-time finish from 12 yards out.