The incident happened in the second half of the game with AFC Bournemouth. Milton was taken to hospital for treatment after falling unwell in the directors' box as he watched the game.
But the club confirmed later on Sunday evening that the 61-year-old was "in good spirits" and stable and communicating.
The Blues said Milton would go home to rest.
On Monday morning a statement was posted on X by Ipswich Town on the behalf of Milton, which said: "I just wanted to take a moment to express my heartfelt thanks for all the unwavering love and support I've received from everyone.
"Your messages, thoughts and prayers have meant the world to me.
Milton is a Blues ambassadorMilton is a Blues ambassador (Image: Newsquest)
"Thank you to the first responders for their swift and professional help. I'm incredibly grateful for their quick actions in such a difficult situation.
"I'm now home and resting, and while I deeply appreciate all of your kind words, please understand that I'm unable to respond to everyone as there are hundreds of messages coming in.
"Right now, I'm spending some much-needed quality time with my family, and I kindly ask that you respect our privacy during this time.
"I look forward to seeing you all back at Portman Road very soon."
After the incident in the directors' box, fans were kept updated via the Blues' X account.
A message from Simon Milton 💙 pic.twitter.com/t1lWlTbe5T
— IPSWICH TOWN (@IpswichTown) December 9, 2024
Milton made more than 300 appearances for TownMilton made more than 300 appearances for Town (Image: Newsquest)
Milton joined Town in 1987 from nearby Bury Town for a £5,000 fee and retired from professional football 11 years later.
READ MORE: Ipswich Town: Simon Milton taken to hospital during game
He was inducted into the Ipswich Town Hall of Fame in 2016 after making more than 300 appearances for the club as a midfielder.
The former player remains heavily involved with the club, holding a role as club ambassador.