United's U18s earnt a creditable point in Suffolk, to bring to an end Ipswich's 100% winning record this season.
Daniel Cockerline and Kler Heh gave the Blades a deserved two-goal lead at half-time, only for the hosts to rally and take a 3-2 midway through the second-half.
But United stuck to the task admirably and equalised deep into injury-time through Dominic Calvert-Lewin.
Coach John Dungworth praised the character and desire demonstrated by United's next generation.
He remarked: "Overall it was an excellent performance from the lads.
"We were excellent during the first half and after going behind in the second period we showed excellent resilience and determination to equalise in the final moments of the game with probably the best move of the match
"We also had two under 16s in our back four who were both excellent."
United opened the scoring in the 16th minute when COCKERLINE retrieved a loose ball before slotting home from inside the area.
The Blades were a constant threat on the counter attack and HEH doubled the lead in the 36th minute with a little help from the Ipswich goalkeeper.
Ipswich dominated the opening exchanges after the break and within 20 minutes they had turned the game on its head to lead 3-2.
But deep into stoppage time, CALVERT-LEWIN capped a fine, free flowing move with a clinical finish to deservedly net United a share of the spoils.
Blades: Ramsdale, Brown, Evans, Semple, Kelly, Gordon, Calvert-Lewin, Hinchliffe, Heh (Ishmael, 71), Cockerline, Kedman (Slew, 89).
Unused: Cheeseman, Perryman, Hallam.