Wickham extended his contract with Ipswich to 2013 in January 2011. It had an offer clause in it which stated that if any bid equalled or bettered the one written in the contract, Ipswich would have to allow him to speak to the bidding club. It was reported that the figure was around the £15 million mark.
On 22 January 2011, Wickham scored Ipswich's his first goal of the season in a 3–2 win over Doncaster Rovers. Two games later, Wickham scored in a 3–0 win over Sheffield United at Portman Road. A clearance of a set piece saw Wickham pass two opponents before wrong-footing Rob Kozluk and goalkeeper Steve Simonsen to tap the ball into the net. Former Ipswich player, Kevin Beattie witnessed the goal, and described it as one of the greatest goals ever scored at Portman Road. Two weeks later Wickham recorded his first professional hat-trick in a 6–0 win at Doncaster Rovers. Wickham's superb scoring form continued when he scored late in the match against Reading on 8 March. With Ipswich already 3–0 down, his goal counted for little, although it was once again a superb finish, as he volleyed a ball that was coming over his shoulder into the top corner of the goal from a tight angle.
On 4 March 2011, Wickham was named Championship player of the month for February after scoring four goals in the month, including his first professional hat-trick at Doncaster. Two weeks later he was named the Football League Young Player of the Year as well as the Championship Apprentice of the Year at the 2011 Football League Awards.
On 2 April 2011, Tottenham Hotspur manager, Harry Redknapp admitted that his side had not made a bid for Wickham. This was despite several reports to the contrary suggesting a bid in the region of £10m had been made. The same day, Wickham scored the second of Ipswich's two goals against Burnley in the Championship, as they won 2–1.
He signed a one-year extension to his contract on 8 April 2011, contracting him to the club until the summer of 2014. Wickham admitted he was delighted to have signed the contract, and said he just wanted to concentrate on achieving his goals with Ipswich, rather than focusing on speculation about his future. He said:
On 29 June 2011, Wickham signed a four-year deal with Premier League club Sunderland for a fee of £8 million. The fee has the potential to rise to £12 million over the course of the contract. Despite having recently signed a new contract with Ipswich, Wickham had been widely tipped to move to a Premier League club following a highly successful 2010–11 season. Although Ipswich manager Paul Jewell had said there was no pressure to sell the youngster, Sunderland's eventual offer proved too lucrative. The fee broke Ipswich's record for transfer fees recouped, and broke the transfer record for a Football League player moving to a Premier League club. Ipswich's chief executive Simon Clegg summed it up:
He scored his first goal for Sunderland in a pre-season friendly against Kilmarnock. Wickham made his first competitive appearance for Sunderland when he came on as a substitute in the 1–0 defeat to Newcastle United in the Tyne–Wear derby on 20 August 2011. He made his first Premier League start for Sunderland on 22 October 2011 where he helped Sunderland secure their second win of the season against Bolton Wanderers.
On 14 March 2011, it was announced that Wickham had been included in the squad for England's games against Denmark and Iceland. He came on as a substitute in the game against Denmark, which England went on to win 4–0. The following Monday, Wickham started the game in a friendly against Iceland at Deepdale in Preston. It was his first start for the under-21s, and he played the full 90 minutes as England lost the game 2–1 to a very strong Iceland side that consisted of a number of first team regulars. Wickham played as a lone striker in the game.