Iheanacho was on target for the Foxes after finishing off an assist from Wilfred Ndidi.
He doubled Leicesters lead in the 76th minute after two-goal hero, Kiernan Dewsbury-Hall, had opened the scoring on the hour mark.
In the outcome of the votes by Leicester fans, Iheanacho finished second in the three-man shortlist.
The Nigerian polled 12 per cent to finish behind Dewsbury-Hall who had 75.7 per cent.
Former Tottenham Hotspur midfielder Harry Winks was third with 9.5 per cent.
Iheanacho has scored three goals in 10 league appearances for Leicester this season.
Leicester, on 27 points, lead the Championship table after 10 games played.
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