Brendan Rodgers' side head into the clash fresh off their impressive 3-2 win over UEFA Europa League champions Villarreal on Wednesday.
It was Leicester's first pre-season win, having lost to Burton Albion before drawing with Wycombe Wanderers and QPR, the victory over Villarreal was a much-needed boost for the young Foxes side and will certainly give them momentum heading into their fixture at Wembley.
Picking up convincing wins over Preston North End, Barnsley, and Blackpool, the Citizens netted 10 goals and conceded only once in their pre-season.
Man City head into this clash as favorites, winning nine of the last eleven meetings with the Foxes, and will likely field a strong side as they aim to start their campaign off with some silverware.
Despite an impressive win for Leicester over Villarreal, the mood was severely deflated by the horrific injury to young centre-back Wesley Fofana.
The 20-year-old defender suffered a leg fracture after being fouled by midfielder Fer Niño in the friendly, likely keeping Fofana out of action until reportedly as early as January.
Limited with defensive options, Rodgers may use Daniel Amartey or young defender Filip Benkovic to partner Caglar Soyuncu in the heart of defence.
Defensive midfielder Wilfred Ndidi played as a make-shift centre-back last season due to injuries, opening the possibility that Rodgers may opt to use the Nigerian alongside Soyuncu instead of his other less-tested defensive options.
Unlike Leicester, Man City have been fortunate to suffer few injuries during pre-season and will have an almost full squad for their trip to Wembley.
Although defender Joao Cancelo has been absent with a Corona Virus scare, Guardiola will be able to field his strongest side against the Foxes as the Spaniard has a wealth of options to use in the meeting.
Players to Watch
Leicester supporters have enjoyed seeing several new faces in the Foxes line-up during their pre-season, with new signings and academy players joining the already impressive side Rodgers has built.
One name that has stood out amongst supporters is new £23 million signing, Patson Daka. The Zambian forward recently joined from Austrian champions Red Bull Salzburg and has already made an impact for the former Premier League champions.
The 23-year-old scored a fantastic goal and won a penalty in the Foxes 3-3 draw with QPR, showing the pace and intensity often associated with fan favourite Jamie Vardy. His speed against the experienced Man City defence will certainly be a great battle to watch.
Despite joining the Foxes on a free transfer, fellow new signing Ryan Bertrand has also been a revelation at left-back for Leicester since signing from Southampton Football Club in July.
The 32-year-old has made an outstanding start to life at Leicester with his hard work and excellent set-piece deliveries providing an attacking element that Rodgers' side have been lacking in previous seasons.
A solid defensive player, the potential battles with wide players such as Phil Foden, Bernardo Silva, or maybe former fox Riyad Mahrez will be an exciting spectacle to watch.
Although only signing for the club two days before the fixture, the name on everyone's lips is that of new Man City signing Jack Grealish.
The midfield maestro was purchased for a British record fee of £100 million by the Citizens, adding even more strength to their already outstanding line-up of attacking options.
Leaving his boyhood club Aston Villa, Leicester's Midland rivals, the 25-year-old is no stranger to the majority of the Foxes side. We could be in for some exciting battles should Guardiola chose to start their latest purchase.
Despite new additions being made to the Man City squad, midfield star Kevin De Bruyne remains arguably the greatest threat on the pitch.
The mercurial provider of Guardiola's squad, the Belgium international produced the team's highest tally of assists last season with 12 - a stat only beaten in the league by England captain Harry Kane.
De Bruyne will certainly be a danger that Leicester will need to contain if he makes an appearance on Saturday.
Tactics and Formations
With Guardiola being considered by many to be one of the best managers of modern times, it will be interesting to see what formation Rodgers chooses to deploy to outfox his opposition.
The Scotsman has consistently stuck with a 4-2-3-1 formation in pre-season, sometimes switching to a 4-4-2 when opting to play two strikers.
The £17 million midfielder has made some impressive performances since joining from Ligue 1 champions Lille in the summer, with physical strength and brilliant passing ability, the Frenchman could be a useful weapon against the Premier League champions this Saturday.
Guardiola will likely stick with the 4-1-4-1 formation that his side have used throughout pre-season, often deploying a defensive midfielder such as Fernandino or Rodri to protect the defensive line.
There could be a chance for young English striker Ben Knight to occupy the lone striker role for Man City. The 19-year-old has started all three of the club's pre-season fixtures, scoring in their 4-0 thrashing of Barnsley in July.
With such strong and creative midfield options supporting the young forward, Rodgers may be wary of the potential threat Knight could pose to the Foxes defence.