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Marriott, 19, follows in the footsteps of Town left-back Aaron Cresswell after he put pen to paper on a new deal at Portman Road on Wednesday.
Marriott landed his first professional contract with the Suffolk outfit in the summer, a one-year deal which was due to expire at the end of the season.
But his form during a current loan spell at Skrill Premier side Woking, for whom he has netted six goals in five games, has already led to a new one-year extension.
"Obviously I'm delighted to have been offered a new contract," Marriott told the club's official website. "It's what I've been aiming for, to win a new deal and I couldn't be happier.
"I'm really enjoying my time on loan at Woking and I'm scoring a few goals.
"It's given me a boost in confidence. I feel I have improved as a player and with signing a new deal as well, things are going well for me. I've just got to keep working hard to make sure it stays that way."
Marriott has made one substitute first-team appearance for Ipswich to date, coming off the bench in a 2-0 defeat at Burnley in the final match of last season.