Leicester owners, the Srivaddhanaprabha family, have completed their purchase of the King Power Stadium for a reported £17m.
The Foxes' home since 2002 had been owned by American pension fund company Teachers Insurance since the club came out of receivership soon after the ground opened.
But the club's owners have secured a deal for the 32,262-seater stadium that has been bought through their company K Power Holdings Co Ltd.
"It has always been part of our long-term vision to put the stadium back where it belongs, into the hands of the football club," vice-chairman Aiyawatt Srivaddhanaprabha told the club's official website.
"Purchasing the stadium was always a key element in this plan. The previous stadium owners have always been very co-operative.
"Whilst there are no immediate plans to alter the structure or design of the stadium site, the increased flexibility through direct ownership ensures that the football club can freely adjust to the changing needs of its supporter-base for the future."
The ground was built in 2002 at a cost of £37m to replace Filbert Street, but the club were soon plunged into administration.