The English defender joins on an initial loan deal until the end of the season with the option of a permanent transfer come the conclusion of the 2019/20 season.
Bennett, 29, has been with Wolves for two-and-a-half seasons since arriving on a free transfer from current Premier League strugglers Norwich City. In that time, he has gone on to make 92 appearances for the club as they earned promotion from the Championship and secured a place in the UEFA Europa League upon their return to the top-flight.
He has fallen down the pecking order at Molineux under Nuno Espirito Santo though, having only made seven Premier League starts during the current campaign.
Bennett will now provide some much-needed support and competition at the East-Midlands to current starting centre-back pairing Jonny Evans and Caglar Soyuncu, as well as skipper Wes Morgan. In the meantime, it will also allow youngster Filip Benkovic to potentially depart the club on loan to continue his development.
Intriguingly, Bennett is not yet eligible to make his debut for Leicester during tomorrow afternoon’s match against Chelsea, whilst he will also not be available for selection in their next fixture against parent club Wolves. His debut could potentially come against reigning Premier League champions Manchester City in late February.
‘The club is moving in a forward direction’
Upon penning his temporary deal at the King Power Stadium, the former Grimsby Town man expressed his excitement at getting involved with the Champions League chasing Foxes.
Talking to LCFCTV, he said: “It's great to be here. It's a massive club and the league table doesn't lie. The manager has taken the team to another level and the players deserve great credit too. The Club is moving in a forward direction and it's really good to be part of it.
"I've experienced the atmosphere at King Power Stadium before too with Wolves and with Norwich City. It's a great environment here and it's a journey I'm looking forward to."