Man City sign Leicester's Riyad Mahrez

Leicester City's Riyad Mahrez has moved to Premier League Champions Manchester City

Manchester City have confirmed the signing of Algeria winger Riyad Mahrez from Leicester.

The 27-year-old has been a long-term target for City, and moves to the Premier League champions on a five-year-deal for an undisclosed fee.

"I am so pleased to have joined City, a side playing great football under Pep Guardiola. They're redefining the English game and I wanted to be a part of it," Mahrez said on his new club's website.

Leicester rejected City's offer of STG50 million ($A89 million) plus winger Patrick Roberts - valued at STG15 million - in January, and Mahrez missed two games during the saga.

The terms of the transfer were not revealed in Tuesday night's announcement, but a fee has been reported to be in the region of some STG60 million.

Leicester said in a statement the deal was a "club-record fee".

Mahrez was given extra time off by the Foxes after playing in Algeria's international games in June and had been set to return to pre-season training before confirmation of his move to City.

The winger is confident he can take his game to another level at the Etihad Stadium.

"Watching them from afar has been a pleasure. Pep is committed to playing attacking football, which is a perfect for me, and City's performances last season were outstanding," he said on the club's official website.

"I think we can be successful over the coming years and I believe my own game can develop under Pep's management."

Leicester had already brought in cover with the STG24 million arrival of attacking midfielder James Maddison from Norwich.

Mahrez helped Leicester to a shock Premier League title triumph in 2016, scoring 17 times, and then played a major role in the club reaching the Champions League quarter-finals during the following campaign.

The Algerian, who signed from Le Havre for STG400,000 during 2014, leaves the Foxes having made 180 appearances, scoring 48 times.