There has been plenty of speculation over the future of the Algerian but Leicester remained resolute in their stance that he would stay.
The reigning Premier League champions have now been vindicated as they announced that the 25-year-old will stay on until 2020.
— Leicester City (@LCFC) August 17, 2016
It is believed that there is no release clause in the new agreement.
Mahrez made 39 appearances in all competitions for the Foxes last season, bagging 18 goals and providing 11 assists.