The game should have a big impact in the race to finish inside the top four and qualify for the Champions League.
The Gunners are now eight points off Chelsea in fourth after beating Wolves with the Foxes just a point further ahead.
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While Brendan Rodgers will be relieved to return to winning ways against Crystal Palace after Manchester United applied the pressure with their recent win streak.
Here is our prediction for the game at the Emirates.
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When is it and what time is kick-off?
The match will kick off at 8:15pm at the Emirates on Tuesday 7 July.
How can I watch it online and on TV?
The match will be shown live on Sky Sports Main Event and Sky Sports Premier League, with coverage beginning at 7.30pm.
Sky Sports subscribers can also stream the game on the Sky Go app. If you’re not a Sky customer, you can grab a NowTV Day Pass here to watch without a subscription.
Nicolas Pepe should return after missing the win over Wolves due to his wife giving birth, while Calum Chambers, Bernd Leno, Pablo Mari and Gabriel Martinelli.
James Maddison is still a doubt with a hip problem, and Rodgers will be sweating on the fitness of Ben Chilwell and Ayoze Perez, who both face late fitness tests after being forced off against Palace.
Arsenal XI: Martinez; Mustafi, Luiz, Tierney; Bellerin, Ceballos, Xhaka, Saka; Pepe, Nketiah, Aubameyang
Leicester XI: Schmeichel; Justin, Evans, Soyuncu, Chilwell; Praet, Ndidi, Tielemans; Perez; Iheanacho, Vardy
What are the odds?
Arsenal are trending nicely and Arteta is starting to see an understanding from his players as to what he craves from his team. Leicester present another challenge, but even after winning against Palace, not one that should be intimidating given the impressive victory at Molineux last time out. The Gunners look to have more cutting edge and all of a sudden some resilience without the ball. We’ll go for a home win and the latest sign that Arteta is the man to inspire a resurgence at the Emirates. 2-1.