The Foxes announced the Portugal full-back has signed a five-year-deal, having arrived this weekend to finalise personal terms and complete a medical in a deal that could reach €25 million ($39.2 million).

Pereira's move will be ratified when transfer clearance is received on 9 June and the 24-year-old's immediate focus will be on Portugal's FIFA World Cup campaign.

"I feel very happy to be here and I can't wait to do my best to help the team," he said.

"The atmosphere, the fans and the football of the Premier League makes it the best in the world. I am here to support the team and to help the club to achieve its goals."

Pereira is well known to Leicester boss Claude Puel, having played under the Frenchman during a loan spell at Nice.

Puel added: "I'm delighted to have a player of Ricardo's quality on board for next season. I remember him well from my time at Nice."

The Portugal international, who can also play on the wing, counts a Taca de Portugal medal with Vitoria Guimaraes and a Primeira Liga triumph with Porto this season among his list of achievements.