The new deal will keep the 20-year-old at Ipswich until the summer of 2015.
Mings told the club’s official website: “I was delighted to sign my first contract here but to know the manager has shown confidence in me and wants me to stay is a big bonus.
“It gives me some stability, knowing my future is sorted for the next few years, but I can’t rest on my laurels.
“The manager has told me to carry on doing what I’m doing and it’s down to me to get into the first team and look to play as many games as possible and at some stage in the future, win another deal to stay here.”