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Robson, whose new position is an honorary role only, presided over the most successful period in Ipswich's history, winning the FA Cup, the UEFA Cup and twice finishing runners-up in the league.
He said: 'I am extremely flattered to have been asked to become the president of Ipswich Town football club.
'Despite going on to manage England, Barcelona and Newcastle , the 13 years in charge at Portman Road were among the happiest days of my managerial career.
'I still think of Ipswich Town as my baby and always will. It gave me a great education in football and made me confident to face anything.
'It put me on the football map so as you can imagine it is very close to my heart.'