The Foxes will host the newly-promoted Ligue 1 side on July 27, just one week before the new football league season gets underway.
The manager told the club's website: "I'm sure the Monaco game will be an extremely attractive fixture for our supporters. For the players it forms part of a pre-season programme designed to prepare them for a very important forthcoming season and they too will be looking forward to it."
The club's vice chairman Aiyawatt Srivaddhanaprabha added: "The match will be a great curtain-raiser for an extremely important season for our football club, where, with the help of our loyal supporters, we will be looking to build on the progress of last year and maintain our pursuit of a place in the Premier League."
Monaco also have a pre-season friendly against Tottenham Hotspur lined up.