The 19-year-old Addicks midfielder made 19 appearnces for Jim Magilton's side during his five month loan spell at Portman Road.
"Simon wanted to go back to Charlton because he feels he can help them out of their predicament," Magilton told his club's official website.
"He has certainly got something to offer. He's a young player, still developing who will emerge as a very good footballer and we wish him well."