The Premier League club made the announcement through their social media handle this Saturday.
The 24-year-old is enjoying the best form of his Leicester City career, having scored seven times in his last four appearances for the Foxes and picking up the Premier League’s Player of the Month award for March.
“I can’t express how I’m feeling. I’m excited, I’m happy, I’m overwhelmed! It’s a great moment and I’m happy that Leicester City gave me a new contract.
“It’s been a great time here. It’s not been easy, but there’s a lot of people here that are good people, great people to work with. They are nice people and they make me feel comfortable and welcome since I came in.
The Nigerian international has made 117 appearances for the Brendan Rodgers side in all competitions, scoring 32 goals.