First-half goals from Andy King, Ayegbeni Yakubu and Yuki Abe gave the hosts a healthy lead which they almost let slip in a goal-crazy four-minute spell in the second half, which included a Diomansy Kamara strike to finally wrap up the win.
King headed the hosts ahead on 26 minutes and the Foxes bagged a quick-fire double before the break, with Yakubu slamming home from close range and Abe scoring his first for the club from 20 yards.
The Tractor Boys were handed a lifeline in the 69th minute when Jeffrey Bruma handled in the box and Grant Leadbitter calmly slotted in the penalty, and they levelled matters a minute later through Connor Wickham's close-range finish.
But the fight-back was cut short when Kamara steered home the hosts' fourth on 72 minutes to seal the win.
City finished the season in 10th, while Paul Jewell's side ended up in the bottom half.
Source: PA
Source: PA