The precursor to the Premier League’s resumption next weekend pitted Pep Guardiola’s side against Brendan Rodgers’ men and it was the Foxes who triumphed on the day.
Man City dominated possession as usual but a resolute Leicester defence superbly kept the champions at bay for large parts of the game.
The best chance of the first half fell the way of Jamie Vardy on the cusp of halftime but goalkeeper Zack Steffen excellently tipped the Englishman’s shot onto the post as Leicester threatened on the counter.
Without the benefit of extra time in the Community Shield, it looked like the game was heading for penalties for large parts of the second half until substitute Iheanacho pounced on an error from Nathan Ake.
The Nigerian international was caught in the box after robbing Ake of the ball and referee Paul Tierney pointed to the spot, allowing Iheanacho to smash in the winner despite Steffen getting finger tips onto the ball.
The 2021/2022 Premier League will start next week, with Man City travelling to Tottenham Hotspur while Leicester play Wolverhampton Wanderers on the opening weekend of the season.