It can take up to 3 weeks and several treatments and water changes. Usually, the parasites should start to die in 3 to 5 days, depending on how long a head start they got. Temperature matters as well. Warmer speeds up its life cycle, though not all fish can handle warmer.
It's a malachite green and formaldehyde mix, which is the best option for quickly killing the parasites. You have to follow the instructions closely.
There's a dangerous myth heat alone will do it - unfortunately, there are heat resistant Ich parasites out there. Salt is an old emergency treatment some favour. I find it a much less effective chemical to use, even if some aquarists think it isn't a chemical because it's "salt". Stick with the product you have, and if you got it into the tank in time, it'll work. If you were slow identifying the problem, as most newer aquarists who have never seen it before are, ich will kill. A lot of new aquarists forget the effects of the parasite and blame the medication! You'll see that online.