In the 1974–75 season, Leicester could not improve on last season's 9th place, finishing 9 places lower. Goalkeeper Peter Shilton refused to sign a new contract and followed his mentor Gordon Banks by signing for Stoke City at a record fee for a goalkeeper of £325,000 in November and resulted in Mark Wallington starting the season in goal. From early November to late February, the Foxes did not register a league win in 13 games which saw them slip to bottom of the table and heading for relegation but again their FA Cup progress gave them a boost in their league form. As the season drew to a close, Chris Garland improved their strike force by scoring 8 goals in 10 matches, which was enough to save the Foxes from the drop in 18th and 3 points clear of relegation.
Source:
World FootballRules for classification: 1) Points; 2) Goal average; 3) Goals scored
(R) Relegated
Leicester City's score comes first[1]
| Date | Opponent | Venue | Result | Attendance | Scorers |
| 17 August 1974 | Arsenal | H | 0–1 | 26,448 | |
| 20 August 1974 | Birmingham City | A | 4–3 | 27,961 | Weller, Worthington (2), Earle |
| 24 August 1974 | Liverpool | A | 1–2 | 49,398 | Weller |
| 27 August 1974 | Birmingham City | H | 1–1 | 24,018 | Worthington |
| 31 August 1974 | Carlisle United | H | 1–1 | 20,658 | Worthington (pen) |
| 7 September 1974 | Wolverhampton Wanderers | A | 1–1 | 20,564 | Glover |
| 14 September 1974 | Queens Park Rangers | H | 3–1 | 19,763 | Worthington (2), Glover |
| 21 September 1974 | West Ham United | A | 2–6 | 21,377 | Worthington (2, 1 pen) |
| 28 September 1974 | Coventry City | H | 0–1 | 21,354 | |
| 5 October 1974 | Luton Town | H | 0–0 | 19,024 | |
| 12 October 1974 | Derby County | A | 0–1 | 24,753 | |
| 19 October 1974 | Sheffield United | H | 3–0 | 18,433 | Worthington (2), Glover |
| 26 October 1974 | Newcastle United | A | 1–0 | 34,988 | Earle |
| 2 November 1974 | Burnley | H | 1–0 | 19,981 | Sammels |
| 9 November 1974 | Chelsea | A | 0–0 | 23,915 | |
| 16 November 1974 | Tottenham Hotspur | H | 1–2 | 23,244 | Earle |
| 23 November 1974 | Manchester City | A | 1–4 | 31,628 | Birchenall |
| 30 November 1974 | Stoke City | A | 0–1 | 29,793 | |
| 7 December 1974 | Everton | H | 0–2 | 21,451 | |
| 10 December 1974 | Middlesbrough | A | 0–3 | 22,699 | |
| 14 December 1974 | Arsenal | A | 0–0 | 20,849 | |
| 20 December 1974 | Ipswich Town | H | 0–1 | 16,636 | |
| 26 December 1974 | Queens Park Rangers | A | 2–4 | 17,311 | Lee (2) |
| 28 December 1974 | Leeds United | H | 0–2 | 29,699 | |
| 11 January 1975 | Everton | A | 0–3 | 31,985 | |
| 18 January 1975 | Stoke City | H | 1–1 | 21,736 | Glover |
| 1 February 1975 | Chelsea | H | 1–1 | 23,759 | Weller |
| 8 February 1975 | Burnley | A | 0–2 | 16,352 | |
| 22 February 1975 | Tottenham Hotspur | A | 3–0 | 20,937 | Stringfellow, Worthington, Sammels |
| 1 March 1975 | Carlisle United | A | 1–0 | 12,676 | Worthington |
| 8 March 1975 | Manchester City | H | 1–0 | 23,059 | Lee |
| 15 March 1975 | Coventry City | A | 2–2 | 23,139 | Worthington, Lee |
| 19 March 1975 | Liverpool | H | 1–1 | 28,012 | Worthington |
| 22 March 1975 | Wolverhampton Wanderers | H | 3–2 | 25,070 | Garland (3) |
| 29 March 1975 | Ipswich Town | A | 1–2 | 28,745 | Worthington |
| 31 March 1975 | Leeds United | A | 2–2 | 29,898 | Lee, Garland |
| 1 April 1975 | West Ham United | H | 3–0 | 30,408 | Worthington (pen), Garland (2) |
| 5 April 1975 | Newcastle United | H | 4–0 | 23,638 | Garland (2), Lee, Worthington |
| 9 April 1975 | Middlesbrough | H | 1–0 | 24,531 | Worthington |
| 12 April 1975 | Luton Town | A | 0–3 | 18,298 | |
| 19 April 1975 | Derby County | H | 0–0 | 38,143 | |
| 26 April 1975 | Sheffield United | A | 0–4 | 28,947 | |
[2]
Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply. Players may hold more than one non-FIFA nationality.