Howedes had spent his entire professional career with the Royal Blues, making more than 300 appearances in all competitions for the club since his 2007 debut.
However, rumours started to grow that the Germany international defender was keen for a new challenge after having the captaincy taken off him when it emerged that he was no longer first choice in the rearguard.
The 29-year-old had always remained loyal to the Gelsenkirchen outfit despite receiving several offers to join top clubs over the past few years.
He is now on a season-long loan with Italian giants Juventus but agent Volker Struth confessed that the Foxes were keen to take him to the King Power Stadium during the transfer window.
"Of course, we also contacted other clubs," he told SportBild. "There were talks with AS Roma, Leicester City and Arsenal because we heard here that Mustafi was intercepted by Inter Milan."