Mamady Sidibe and Liam Lawrence struck late on to keep alive Stoke's improbable Coca-Cola Championship promotion dream.
Substitute Sidibe had not scored since the end of January but he was on hand to finish off a fine pass from Ricardo Fuller with 12 minutes remaining.
That strike put Tony Pulis' men 3-2 up and Sunderland reject Lawrence, who is enjoying a new lease of life with the Potters, applied the coup de grace in injury-time.
Stoke have been hovering around the promotion picture all season and this victory suggested they are not finished just yet.
It was also just reward for their ceaseless endeavour as Leicester produced a strong display which threatened to deny the Potters two priceless points.
Prior to Sidibe and Lawrence's late intervention, Leicester striker Elvis Hammond scored a scruffy goal in the 58th minute to tie the scores at 2-2.
Rob Kelly's men deserved credit for their contribution to an entertaining encounter which produced three goals inside 13 first-half minutes.
Foxes defender Darren Kenton capitalised on an error by Stoke goalkeeper Steve Simonsen to open the scoring in the 16th minute.
Pulis' men responded in style, with on-loan Hull forward Jon Parkin netting his first goal in four appearances before Fuller won and converted a 28th-minute penalty.
But it was Leicester who opened the scoring, albeit in controversial circumstances, with 15 minutes played.
Danny Tiatto floated a deep free-kick from the left flank into the penalty area which Foxes skipper Patrick Kisnorbo rose to meet in a challenge with home goalkeeper Steve Simonsen.
Simonsen's weak punch fell straight to Kenton who was lurking 14 yards from goal.
The defender was unmarked and returned the ball with interest with a well-placed right-footed volley as Simonsen lay crestfallen on the turf.
The inevitable protests from Stoke ensued over Kisnorbo's challenge on Simonsen but the angry mood inside the Britannia Stadium quickly turned to elation as Pulis' men equalised.
Fuller did well to hold the ball up down the right flank and slip a neat pass inside Lawrence.
He whipped in a vicious low cross which Parkin duly dispatched from six yards with a clinical side-footed finish.
The giant striker, nicknamed 'The Beast' due to his huge frame, celebrated with a punch of the air and it soon got better for Stoke as they moved ahead in the 28th minute.
Fuller again provided the inspiration, teasing Kenton with some delightful footwork before the Leicester defender upended him with a needless foul.
Fuller stepped up to fire the resultant spot-kick low to Paul Henderson's left.
But 10 minutes before the break Simonsen need to be alert to smother Elvis Hammond's low right-footed strike from 18 yards.
The former Everton man further atoned for his earlier error with superb saves from Tiatto's far-post volley and Jason Jarrett's left-footed strike.
Leicester initially dominated proceedings after the break and it came as little surprise when they drew level shortly before the hour mark.
Jarrett played in Sean Newton down the right flank and his low cutback was scuffed in at the near post by Hammond, who was almost too embarrassed to celebrate.
However, Stoke again responded in style and they gained fresh impetus when Sidibe replaced Parkin.
Accordingly, the 6ft 4in forward buried a fine right-footed shot from 12 yards in the 78th minute to put Stoke 3-2 ahead. And more unselfish work from Fuller teed up Lawrence for a cool finish deep into injury-time.
Teams:
Stoke Simonsen, Hoefkens, Zakuani, Fortune, Higginbotham,Lawrence, Eustace, Russell (Dickinson 46), Martin (Hendrie 73),Parkin (Sidibe 63), Fuller.
Subs Not Used: Hoult, Vass.
Booked: Fuller.
Goals: Parkin 18, Fuller 29 pen, Sidibe 79, Lawrence 90.
Leicester Henderson, Stearman, Kenton, Kisnorbo,Maybury (Fryatt 83), Newton, Johnson (Hughes 69), Jarrett,Tiatto (Porter 76), Hume, Hammond.
Subs Not Used: Logan, Johansson.
Booked: Newton, Hume, Kenton, Tiatto.
Goals: Kenton 16, Hammond 58.
Att: 13,303
Ref: E Ilderton (Tyne & Wear).