Ipswich scored two late goals to secure a dramatic victory and leave Alvaro Arbeloa still searching for his first win as Fulham boss.
The visitors had looked on course to secure a win in the league at the sixth time of asking when Ryan Sessegnon drove low from outside the area into the back of the net 10 minutes into the second half.
Ipswich battled hard to get back into the game as the unmarked Emersonn crashed a header against the post, before Daizen Maeda was denied a penalty when he went down inside the box under a challenge.
However, the hosts levelled with just two minutes to go as Abdoul Ouattara struck from 25 yards.
From there, they pushed for the winner, which duly arrived in the 92nd minute when Dara O'Shea headed in from a set-piece to send Portman Road wild.
Fulham remain in the bottom three and have just two points from six games while a third win of the season for Ipswich moved them up to ninth.
