The Foxes have been unstoppable in the Championship recently, stringing together a run of nine consecutive victories to open up a 10-point gap at the top of the table.
With second-placed Queens Park Rangers not in action until Monday night, Leicester could stretch that lead to 13 points if they make it a perfect 10 this Saturday.
Nigel Pearson's side have not been beaten since December 7 and have found an impressive balance between attack and defence, conceding just once in their last four matches.
They have only been beaten once and dropped just seven points in front of their own fans this season, amassing 35 points from their 14 league outings at the King Power Stadium.
Despite relying on substitute Phillips to earn them the victory last time out, Pearson is expected to name an unchanged lineup for this weekend's match.
Watford are the team who face the unenviable challenge of trying to stop the rampant Foxes, but they will have been given a much-needed confidence boost from their last outing.
The Hornets overcame promotion candidates Brighton & Hove Albion 2-0 to record just their second victory in their last 16 league matches.
While a playoff charge of their own is highly unlikely now, manager Giuseppe Sannino will look to make that result a turning point in his side's campaign.
A draw would certainly be regarded as a good result given Leicester's recent form, and Watford are no strangers to earning a point on their travels this season.
Before back-to-back away defeats to Manchester City and Nottingham Forest, they had recorded no less than seven away draws in a row, and they have only been beaten three times on the road in the league this season.
However, they have also only won three away games, and will certainly be massive underdogs travelling to the King Power Stadium.
Sannino has no injuries worries ahead of the game, with Lewis McGugan expected to have recovered from a knock in time.
Possible starting lineups
Leicester: Schmeichel; De Laet, Wasilewski, Morgan, Konchesky; Knockaert, James, Drinkwater, Dyer; Vardy, Nugent
Watford: Almunia; Hall, Ekstrand, Angella; Pudil, Murray, McGugan, Faraoni, Anya; Deeney, Forestieri
Sports Mole says: 2-0