Paul Dickov poached two cleverly taken goals but the strikers' plaudits belonged to Frenchman Lilian Nalis who lit up the Walkers Stadium with a wonderful strike.
Debutant Marcus Bent partnered Dickov in attack in the absence of the suspended Les Ferdinand while United gave a debut to their Brazilian World Cup winning defender Roque Junior.
And Bent made an immediate impact crossing from the right for James Scowcroft to get in a powerful header which forced Paul Robinson into a sprawling save.
Gerry Taggart came to City's rescue on ten minutes with a timely tackle on Alan Smith after a flowing move had found the hit man free on the edge of City's six-yard area.
The home side then went close from successive corners. First Robinson saved acrobatically to keep out Taggart's close-range effort and then Ben Thatcher sent a header fractionally over.
The Foxes continued to press and Scowcroft stole in at the back post to head Muzzy Izzet's cross narrowly wide.
It was all City and it was fitting they should finally break through with a great strike from Nalis.
It came on 20 minutes when Craig Hignett's cross from the right was only half-cleared to Nalis who fired in a dipping left-foot 20-yard volley into Robinson's top left-hand corner.
And just three minutes later the rampant Foxes doubled their advantage when a long clearance by Ian Walker was headed on first by Scowcroft and then Bent for Dickov who held off Gary Kelly before firing home a low shot from 15 yards.
Another goal conceded would have put the game beyond Leeds but the Yorkshiremen held their nerve in the face of continued pressure to reach the sanctuary of the half-time dressing room without sustaining further damage.
No doubt Micky Adams' team talk at the break focused on the fact that the last time City found themselves 2-0 up at home, Southampton came storming back to force a draw.
City appeared to have taken note and were quick to put Leeds on the back foot.
Within moments of the restart Bent's 20-yard shot fizzed the wrong side of an upright and then the keeper had to race from the penalty area to head clear as Bent threatened to connect with a long clearance.
Junior was lucky to escape with just a yellow card after holding back Bent when the Leicester striker appeared to have a clear run on goal.
Robinson kept the visitors in the hunt on the hour mark with a dazzling one-handed save to deny Scowcroft only for the Foxes to go even closer when Thatcher headed Izzet's subsequent corner against the crossbar.
City finally killed off Leeds on 83 minutes with a superbly crafted goal from Dickov.
Izzet picked out the diminutive striker 20 yards from goal and the Scottish international rounded a pedestrian Lucas Radebe before curling his shot inside Robinson's far post.
And Leicester rounded off a cracking performance in the final minute when Scowcroft rose above a statuesque Leeds defence to head home emphatically an Izzet free kick.
Leicester: Walker, Sinclair, Thatcher, Taggart, Curtis, Nalis, Hignett (Stewart 77), Izzet, Scowcroft, Dickov (Impey 86), Bent (Deane 75).
Subs Not Used: Coyne, Howey.
Leeds: Robinson, Kelly, Camara, Roque Junior (Radebe 81), Domi (Olembe 54), Pennant, Morris, Seth Johnson, Sakho (Lennon 69), Viduka, Smith.
Subs Not Used: Carson, Batty.
Booked: Domi, Roque Junior.
Attendance: 30,460.
Referee: J Winter (Cleveland).