The Foxes paid Manchester City a fee of £25m last summer, but Iheanacho contributed just three goals from his seven starts and 14 substitute outings in the Premier League.
However, Iheanacho is expected to play a role when Leicester face United at Old Trafford on Friday night, and the Nigeria international has suggested that he is feeling sharp ahead of the new campaign.
The 21-year-old is quoted by The Mirror as saying: "I would like to be part of it and am looking forward to it. I think it is going to be a big season for the whole team and we are in good shape now.
"Last season it was difficult coming back from injury and trying to get the same fitness level. Sometimes things don't go the way you want, but it is looking good this season. I am injury-free and will keep working hard and am looking forward to the games."
Iheanacho is likely to be given the nod over Jamie Vardy against United due to the England international having only recently returned to training after the World Cup.