Enzo Maresca's table-toppers went ahead in the 15th minute as Wout Faes applied a simple headed finish from a corner and the Foxes took a 1-0 lead into the break. Leicester then created a host of chances as they looked for a second goal but a combination of wayward finishing and solid goalkeeping from Illan Meslier ensured that they remained only one goal to the good.
Instead, Leeds drew level in the 80th minute as January recruit and second-half substitute Connor Roberts suddenly steered home a composed finish into the bottom left corner after Georginio Rutter broke into the box.
Elland Road went wild but that was nothing compared to the scenes just two minutes later as 17-year-old star Archie Gray unleashed a low drive which took two deflections en route to putting Daniel Farke's side ahead.
Leicester were given five minutes of added time to respond but instead Leeds bagged a third in the 94th minute through second-half substitute Patrick Bamford who got the final touch to a Dan James free-kick awarded for a foul on Rutter on the edge of the box.
The incredible victory made it nine league wins on the spin for Leeds who have now closed the gap to Leicester to just six points and also sit three points clear in the Championship's second automatic promotion place, albeit having played one game more.
Leeds, though, have a far better goal difference than both third-placed Ipswich Town and fourth-placed Southampton who are a further two points behind ahead of Saturday’s 3pm games for the Saints and Tractor Boys. Graham Smyth, the YEP’s chief football writer, hands out the scores from an incredible contest at Elland Road.
7. Glen Kamara
7 - Covered a huge distance. Found it hard to find forward passes at times but pressed relentlessly all game. Kept trying to link play and looked after it really well. Photo: George Wood
8. Willy Gnonto
6 - Lost Faes for the goal but did cause a few problems in the first half. Involved in chances. Worked to get up and down. Couldn't make an impact after the break. Photo: Michael Regan
9. Crysencio Summerville
6 - Couldn't get into the game in the first half. It took until pretty late in the second half when Rutter started to find him. Kept working, caused problems in the latter stages. Photo: Mike Egerton
10. Joel Piroe
5 - Did a huge amount of running to try and press but was barely a factor in possession. Wasted his two chances in the first half. Photo: Michael Regan
11. Georginio Rutter
8 - Never gave up. Struggled to hold onto the ball in the first half, touch was too heavy, nothing worked. But he stuck at it and made two goals. His ball carrying became huge for Leeds. Photo: Mike Egerton
12. Patrick Bamford (sub)
8 - Made a big difference, giving Leeds a target to hit. He annoyed defenders, pressed the keeper and has a claim to the third goal. Photo: George Wood