The Foxes suffered relegation on Sunday following a poor season which saw them struggle for consistency.
Leicester City joined Leeds United and Southampton to lose their top flight status in the Premier League in the 2022-23 season.
Iheanacho contributed five goals and five assists to the cause is eyeing a quick return to the top flight.
“I don’t even know how I feel right now. I’m so disappointed. I don’t know what to say. I want to thank the football club, the fans, and everyone that supported us right from the start till now. I know it is a hard one to take. Whatever it is, we would keep going and stay strong, and hopefully, we would get back up.
“It is a downturn now.
Nobody is really happy at this time. It is about timing for the club and everyone. We just need to take a chill and move on. It is not what we want. We can’t go back now thinking about it. We just have to move forward.
The 26-year-old reserved special praise for the club’s supporters following a tough season.
“The fans were really amazing and even till the end they were just clapping and showing their support. It is a hard one to take but I just want to thank them for all their support and for everything they’ve done for the club. We will just try our best to come back up.”
Another Super Eagles star, Wilfred Ndidi also went down with the Foxes.
Ndidi endured a frustrating campaign battling with injuries.
He made 27 appearances for Leicester City in the Premier League this season.
Iheanacho and Ndidi are expected to leave Leicester City as the club prepares for life in the EFL Championship.