Leicester activated the 30-year-old's relegation release clause with British media reports saying the club will pay 3.5 million pounds in two instalments to West Brom.
"It's great to join and I'm happy it's all gone through. When this opportunity came up, it's one that I couldn't turn down. It's an ambitious club, the owners are ambitious and everyone wants to push the club forward," Evans told Leicester's website.
Northern Ireland international Evans is Leicester's second signing in the close season after Portuguese defender Ricardo Pereira's arrival last month.
(Reporting by Aditi Prakash in Bengaluru; Editing by Christian Radnedge)
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