The 27-year-old defender has signed a four-year contract with Claudio Ranieri’s men, and will complete the deal when the transfer window officially opens on June 1.
The deal is a free transfer, with Hernandez’s deal at Sporting Gijon having come to an end.
Hernandez came through the ranks at Real Madrid’s academy before joining Gijon in 2012.
He has made over 140 appearances for the club, scoring one goal.
“With the Foxes set to embark upon their first-ever UEFA Champions League campaign in 2016/17, the addition of Hernandez bolsters what is an already formidable stable of defenders,” a statement on Leicester’s website said, going on to describe him as “a ball-playing defender with an excellent ability to read the game.”
“To be honest the transfer has been a little bit surprising for us. He’s not one of the best 15 defenders in La Liga and not even close to the top 10 that includes the likes of Ramos, Pique, Godin… He announced he’d leave Sporting after the last game of the season, but we’d never have dreamt he’d end up on a Champions League adventure with the Premier League champions.
“Football-wise, he’s a good defender, not really brilliant at any specific thing, but good in all. He’s not a very good scorer (no goals this season), but he’s a leader in the group and not bad at driving the ball from the defence zone to the attack zone.
“It’s a complete unknown what will happen with him in the Premier League. Maybe he’ll be the next big surprise of the ever-surprising Leicester…”