Maresca has been Pep Guardiola's assistant at Manchester City since Mikel Arteta's departure to Arsenal, helping the Cityzens to their historic treble this past campaign.
He replaces interim boss Dean Smith, who oversaw just two wins from eight games as Leicester were surprisingly relegated from the Premier League.
Maresca previously worked as City's under-23s boss prior to his stint as an assistant under Guardiola.
His only previous senior managerial role was a tumultuous 180-day spell as Parma boss in 2021, overseeing just four wins from 13 games after they were relegated from Serie A. He returned to Guardiola's coaching staff shortly after.
The Italian has also worked as an assistant manager at Sevilla and West Ham.
Leicester endured a miserable 2022/23 season, finishing 19th in the league and ending a 10-year spell in England's top flight, which featured their infamous title win and an FA Cup victory.
