The 63-year-old has agreed to a three-year contract at King Power Stadium to begin his second spell of Premier League management. He was head coach at Chelsea from 2000 and 2004.
“His achievements in the game, his knowledge of English football and his record of successfully coaching some of the world’s finest players made him the outstanding candidate for the job and his ambitions for the future reflect our own,” said Aiyawatt Srivaddhanaprabha, the team’s vice chairman.
“To have attracted one of the world’s elite managers speaks volumes both for the progress Leicester City has made in recent years and for the potential that remains for the club’s long-term development,” he added.
Ranieri fills the managerial spot vacated by the firing of Nigel Pearson in June.
He is touted by the club as an experienced tactician renowned for his methodical approach and entertaining style of play Ranieri’s near 30-year coaching career has included spells in charge of some of Europe’s biggest clubs including Inter Milan, Juventus, Atletico Madrid, Valencia and Roma.
“I’m so glad to be here in a club with such a great tradition as Leicester City,” he said. “I have worked at many great clubs, in many top leagues, but since I left Chelsea I have dreamt of another chance to work in the best league in the world again.”
Leicester City opens the 2015-16 Premier League at home August 8 vs. Sunderland.