The Foxes, who are reaping the financial benefits of a mesmerising run to the Champions League quarter finals last season, have paid around £17million for the young Englishman, who stays in the Premier League after his club were relegated under Marco Silva on the penultimate weekend of last season.
It's believed that once interest from a Premier League club became clear, Hull were happy to let the 24-year-old go for the right price, seeing him join Leicester on a five-year-deal.
Solving Foxes' centre-back issues
An expensive transfer for a relegated player perhaps, but one that certainly solves an issue for the Foxes.
Current starting centre-backs Robert Huth and Wes Morgan are both into their thirties and suffered from injury problems last season, something that saw Leicester's defensive record weaken, conceding 63 league goals - 27 more than in their title winning season a year prior.
Maguire is a highly rated talent and is well thought of throughout the league, despite being part of a Hull defence that let in 80 league goals last season.
Good defensively and on the ball, he'll be a solid addition to Craig Shakespeare's squad, with Leicester having beaten off competition from other mid-table clubs to land his signature.
The signing is the first of a potential exodus from Hull this summer, with Sam Clucas and Andy Robertson amongst others that are wanted by Premier League clubs.
For Leicester, the signing is the start of an important summer for the club as they look to continue to establish themselves as one of the teams that you see in the Premier League every year, with the recovery to an expected Riyad Mahrez sale vital.