Nigel Pearson's men went into their game at mid-table Bournemouth knowing they had the opportunity to move further clear of QPR and Burnley, who battled out a 3-3 draw in the day’s early kick-off.
And veteran striker Kevin Phillips' 81st-minute goal, which came shortly after he was brought off the bench, ensured they would collect all three points at the Goldsands Stadium and leave Bournemouth in 14th place.
That result came after Leicester's closest challengers had served up a thriller at Loftus Road.
Striker Kevin Doyle, who joined QPR on loan from Wolves on Thursday, opened the scoring after just seven minutes, but Burnley's Danny Ings equalised in superb fashion midway through the first half.
Richard Dunne restored the hosts lead before the interval, but a quick-fire double from Sam Vokes put Burnley ahead with 28 minutes remaining.
However, another QPR loanee, West Ham's Modibo Maiga, came off the bench to grab a share of the spoils for Harry Redknapp's men late on.
Fourth-placed Derby County, meanwhile, missed the chance to move above Burnley into third as they were involved in a 3-3 draw of their own at Birmingham City.
Steve McClaren's side were in firm control after coming from a goal down to lead 3-1, but Birmingham claimed a point thanks to Chris Burke and a last-gasp equaliser from Manchester United loanee Federico Macheda.
Leeds United put their off-the-pitch turmoil to one side by coming from behind to post a 5-1 hammering of Yorkshire neighbours Huddersfield Town at Elland Road.
Thank you for reading 5 articles this month* Join now for unlimited access
Enjoy your first month for just £1 / $1 / €1
*Read 5 free articles per month without a subscription
Join now for unlimited access
Try first month for just £1 / $1 / €1
