The Hungarian has failed to impress under Tractor Boys boss Paul Jewell, making just two appearances in a blue shirt this season.
Priskin, 25, was told he could leave the club earlier this season but ended up joining Derby County on a six-week loan spell.
"It has been a privilege to play for a club of Ipswich Town's standing," the former Watford striker told the club's website.
"I would like to wish the players and all involved at the club all the best for the future."
During his spell at Portman Road Priskin, has also had loan spells at Queens Park Rangers and Swansea City.