Diagouraga has struggled for game time under Garry Monk this season.
He has been regularly linked with a move to Rotherham but Ipswich have won the race for his signature.
“I have spoken to Leeds about Toumani Diagouraga as well and that is pretty much done,” Ipswich boss Mick McCarthy said.
“He is a good footballer. He is very mobile. He has got some drive about him.
"He played in the Brentford team that got to the Play-Offs and he will be a good asset for us."
Toumani Diagouraga is joining Ipswich on loan
Chris Wood has been linked with a move to China
Championship Done Deals: Every transfer in during January 2017
Wed, January 18, 2017
Express Sport brings you up to date with every new arrival in the Championship during the January transfer window
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Who has your club brought in during the January transfer window?
Monk has ruled out Chris Wood leaving for China.
Wood has emerged as a target for Tianjin Quanjian after they missed out on Chelsea star Diego Costa.
But the Leeds boss has rubbished speculation his star striker could be leaving this month.
“Chris Wood in China?” Monk said after their 3-2 defeat to Barnsley last night.
“I have no idea where that one's come from.
"Speculation is speculation. Everyone who's here is committed.”
Robbie Keane is wanted back at Leeds United
Robbie Keane says he is yet to hear from Leeds over a possible return to the club.
Keane is currently a free agent after leaving La Galaxy at the end of the season.
Express Sport understands Sunderland are exploring the possibility of bringing him back to the Premier League.
Keane denied he had an offer from Leeds and also admitted he had not heard anything from Wolves.
"I definitely haven’t heard from Leeds or Wolves," he said.