The striker returns to the Emirates Stadium on Wednesday for the first time since turning down a £20 million move to the Gunners during in 2016.
2016 SeasonAll times ET
Leicester arrive at the Emirates on Wednesday looking for an unlikely win vs. Arsenal to secure safety.
Confident Leicester boss Craig Shakespeare believes the Foxes can hold onto their stars without European football.
Leicester captain Wes Morgan has been ruled out of Wednesday's trip to Arsenal with a hamstring injury.
Ranieri was sacked by Leicester earlier this season, only nine months after leading them to a stunning Premier League title success.
The Premier League holders were eliminated by Atletico Madrid and will have to play their way back into the continental competition next season.
Cristiano Ronaldo's hat trick for Real Madrid helped knock Bayern Munich out of the Champions League, while Atletico advanced at Leicester's expense.
Atletico Madrid coach Diego Simeone admitted his team were "living in fear" of Leicester City before advancing to the Champions League semifinals.
Leicester's Champions League run is over, but they have lived the dream and proven to every club with ambition that miracles can happen in football.
Jamie Vardy said he and his Leicester teammates gave everything in their unsuccessful bid to prolong the club's Champions League campaign on Tuesday.
Jamies Vardy and Leicester City gave it a real go but ultimately they came up short against Atletico Madrid, ending their Cinderella European run.
It was fun while it lasted. Leicester hammered away at the opposition defence but couldn't overturn the deficit as Atletico advanced 2-1 on aggregate.
Atletico Madrid have advanced to the Champions League semifinals after a 1-1 second-leg draw against Leicester City.
Leicester City will try to become the first Premier League champions to reach the semifinals of the UEFA Champions League in eight years on Tuesday.
Atletico Madrid defender Diego Godin has told the Daily Mail that Leicester City striker Jamie Vardy would get into Diego Simeone's side.
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