Ahmed Musa is moving to Hull City on loan.
The Nigeria international moved to Leicester in July last year from CSKA Moscow for what was then Leicester City club record of £16m.
He largely failed to impress at the midland club and was involved in a season that saw the premature sacking of the club hero in Manager Claudio Ranieri that oversaw the title winning side for the first time in the club history.
There were reports of rifts between Ahmed Musa and club top scorer Jamie Verdy, however the arrival of Islam Slimani for £30m from Sporting Lisbon, meant there is a stiff competition for Musa.
He featured in 21 league games and scored two goals with no assist in a single season that was also affected by domestic issues needing the intervention of the West Midland police.