The 22-year-old made 32 appearances and kept three clean sheets in the Eredivisie last season with his boyhood club, and he becomes the latest addition to Gary O'Neil's squad as the Tractor Boys prepare for their return to the Premier League.
Van Oevelen did not need much convincing once Ipswich made their interest known.
"As soon as I knew Ipswich were interested, it was a move I knew I wanted to make," he said. "I'm excited to be here, to continue my career in England and to learn from everyone at a big club like this.
"It is an exciting time for this club, being back in the Premier League, and I'm looking forward to meeting everyone and getting started."
O'Neil was equally pleased to add the young shot-stopper to his goalkeeping department.
"We are pleased to be able to add him to our goalkeeping unit," the Ipswich boss said. "He is a young goalkeeper, who has had a good taste of senior football in Volendam, and wants to continue to progress his career in England.
"He joins a good goalkeeping group at the club and he will strengthen us in that area of the pitch."
The deal is understood to be worth around £3.4million, a fee that reflects Van Oevelen's rapid rise since establishing himself as Volendam's first-choice goalkeeper. He will link up with the rest of the Ipswich Town squad at their pre-season training camp in Spain later this week, giving him an early opportunity to settle in before the new campaign gets under way.
Standing at 6ft 6in, Van Oevelen began his youth career at Amsterdamsche before switching to Volendam in 2021, working his way up through the academy before breaking into the first team. His performances last season made him one of the more highly regarded young goalkeepers in the Eredivisie, and Ipswich moved to secure his signature amid competition from elsewhere in Europe.
He becomes the second Dutch player in Ipswich's squad and adds fresh competition to the goalkeeping department as O'Neil shapes his options before the new campaign.