The 23-year-old helped the Foxes gain promotion to the Premier League in 2013-14 but was loaned out to Ipswich Town this season.
Leeds United coach Uwe Rosler says the New Zealander will make an excellent addition to his Championship side.
“I think he’s another important piece in the jigsaw,” he says.
“He’s physical, strong and experienced in this league. He has potential to develop and has his best years in front of him. It’s exciting.
He already has a proven goal-scoring record and I think there are many goals to come. We think he is the right player.”
Wolves were also among the clubs reported to have been keen on Wood’s signature, and Rosler said that demand for the striker made it a difficult deal to be completed.
“I think this was a very tough one because there was a lot of competition,” he said. “It was not easy to get it over the line.
“We presented to his agent and his parents the best possible way for him and we convinced him that Leeds United is the best move for his career because he has to find a home where he gets regular first-team football,” Rosler says.
Wood started his career in England with West Bromwich Albion and spent time with Barnsley, Brighton, Birmingham City, Bristol City and Millwal before joining Leicester City in January 2013.
He scored 14 goals in 53 league appearances for the side.
For more on New Zealand football visit www.nzfootball.co.nz

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