Albion are said to have triggered the recall clause but the keeper could still remain at Ipswich for another week and even feature in their next match against Bolton.
Walton has impressed during his time in Suffolk and talks between the two clubs on a permanent deal remain ongoing.
Walton's contract with Brighton expires this summer and January could be the last chance to receive a fee for the talented 26-year-old.
Albion head coach Graham Potter is however keen to have Walton available as a third choice keeper as Dutchman Kjell Scherpen is expected to g out on loan.
Scherpen, 21, joined Albion in the summer for £4.5m from Ajax and made his first team debut last weekend in the FA Cup win at West Brom.
It was Scherpen's first opportunity to impress and also a chance to put himself in the shop window for a January loan.
The Netherlands youth international is keen to secure a loan move and get some much-needed game and return to Albion in the summer and then challenge Rob Sanchez for the No 1 jersey.
Jason Steele also remains at the club and is the current No 2.
"I am now looking for opportunities to get out and play for this last six months," said Scherpen.
"That is now the best for me to keep playing, get as many games as possible.
"I hope I can find something and hopefully come back in the summer with some games in my legs and keep going."