The 24-year-old was released by Aston Villa earlier this week and has now made the short move to Nigel Pearson's newly-promoted side
Marc Albrighton will remain in the Premier League next season after signing a four-year deal with Leicester City.
The winger was released by Aston Villa earlier this week, having started his career at Villa Park.
And Leicester have wasted little time in securing the services of the 24-year-old Villa academy graduate on a free transfer following their promotion to the top flight.
He told the club's official website: "I'm absolutely thrilled to be joining. Everything about Leicester City is moving forward at the moment and it's going to be a great football club to be a part of.
"It was a great 16 years for me at Villa and I had some really wonderful times there that will stay with me forever. I'm coming away now with my head held high and really looking forward to this fresh challenge with Leicester. I just can't wait to get going.
"I've spoken to the manager and I know he has big plans, so I just can't wait to get started and be involved. Before I joined I spoke to a few people and nobody had a bad word to say about the manager or the club, so I'm delighted to have everything agreed for the new season.
"I've watched some of Leicester's games over the last season and the lads have really played some great football. It's incredible what they have achieved, and they've deserved every bit of their success."
Leicester also completed the signing of defender Matthew Upson on a free transfer on Friday while Jack Barmby joined the development squad from Manchester United.