Though Ipswich were relegated Holland stayed with the club during the 2002–03 season after he turned down a £4 million move to Aston Villa. He continued to play regularly, scoring his first goals of the season on 18 August, netting a brace in a 6–1 win over Leicester City at Portman Road. On 15 March he scored the winning goal in a 1–0 win over Sheffield Wednesday. He made 54 appearances over the course of the season, scoring 7 goals as Ipswich finished 7th in the league. Holland won Ipswich's Player of the Year award for the second time in the 2002–03 season. His spell at Ipswich is remembered for the consistency he showed, after playing 223 consecutive games and only missing one league match (due to international duty) in the six years he was at Portman Road.