Kasper Schmeichel has agreed a new four-year contract with Leicester, Press Association Sport understands.
Like many of the Foxes' promotion heroes, Schmeichel was set to be out of contract in the summer but the highly-rated goalkeeper has now committed his long-term future to the club and is expected to sign this week.
However, reports that the deal will see the 27-year-old earn Â£40,000 per week are inaccurate.
Schmeichel has always reiterated his desire to remain with Leicester despite interest from several other clubs.
Hull tried to sign him last summer while more recently AC Milan, Arsenal and Southampton have all been linked with moves for the former Manchester City trainee.
The Denmark international was one of as many as 10 of manager Nigel Pearson's Sky Bet Championship title-winning squad out of contract at the end of the season.
Schmeichel, along with leading scorer David Nugent, defender Marcin Wasilewski, winger Lloyd Dyer and strikers Tom Hopper and Gary Taylor-Fletcher were all offered new deals.
Taylor-Fletcher has signed his one-year extension while Nugent, who scored 22 goals this season, is understood to be in the advanced stages of his negotiations. However, Dyer has turned down Leicester's offer and is reportedly close to joining Watford.
Defenders Sean St Ledger, Zak Whitbread and George Taft and midfielder Neil Danns, who has already signed for Bolton, were released by the Foxes.
Meanwhile, the Barclays Premier League newcomers have been in talks with Charlton goalkeeper Ben Hamer.
The 26-year-old is out of contract with the Addicks and Pearson is attempting to make him his first new signing of the summer.