The best way to hide your IP in uTorrent is through a VPN. A VPN provides high anonymity and not even the ISP could take a look at it. They only see your IP generates traffic, but that's it. All the connections through VPN are heavily encrypted with various encryption protocols.
You can try CyberGhost VPN or FLyVPN as a starting point. However, if you choose to upgrade your account to premium, more features will be enabled.