The basic concept of the Inversion of Control pattern (also known as dependency injection) is that you do not create your objects but describe how they should be created. You don't directly connect your components and services together in code but describe which services are needed by which components in a configuration file. A container (in the case of the Spring framework, the IOC container) is then responsible for hooking it all up.
i.e., Applying IoC, objects are given their dependencies at creation time by some external entity that coordinates each object in the system. That is, dependencies are injected into objects. So, IoC means an inversion of responsibility with regard to how an object obtains references to collaborating objects.