And provided a painful reminded to Foxes fans of why former boss Craig Shakespeare offered a club record £40million to buy the Icelander at the start of last season.
Toffees supporters are relieved the midfielder chose Goodison instead as Sigurdsson has now scored four goals in his last four Premier games.
Leicester will be kicking themselves for losing this one just as they appeared to be getting on top.
However skipper Wes Morgan left them a mountain to climb when he was sent off for a second bookable offence after chopping down Richarlison after 63 minutes.
It seemed a rash thing for the experienced defender to do after he had just been lucky to escape with a warning after bundling the Brazilian to the ground moments earlier.
Everton took the lead thanks to some Brazilian magic after seven minutes.
Marco Silva was rewarded for handing Bernard his first Premier League start when the summer signing from Shaktar Donetsk set up fellow Samba star Richarlison to fire the Toffees in front.
Bernard gave Leicester right-back Daniel Amartey a torrid afternoon which began when he collected the ball from Idrissa Gueye and left both Ricardo Pereira and the right-back for dead before swinging in a cross.
Kasper Schmeichel could only flick the ball out with his fingertips at full stretch and Richarlison arrived at the back post to gleefully force the ball past Ben Chilwell and Harry Maguire and into the gaping net.
At that point Marco Silva must have felt confident of his chances of clocking up Everton’s first away win of the season.
After all the team who scores first in this Premier League fixture has NEVER lost!
Sigurdsson was a fraction away from making it 2-0 when he slid in but just failed to reach Theo Walcott’s low cross.
It was Leicester, however, who drew level five minutes before half-time with a brilliant counter-attack.
Sigurdsson corner’s corner was cleared to Iheanacho who evaded Gueye and fed Pereira.
The Portuguese midfielder burst forward and left Jonjoe Kenny for dead with a chop inside before slamming ball the ball beyond Pickford, who got a hand to the ball but could not keep it out.
But Sigurdsson earned Everton a deserved win with a stunning goal 13 minutes from the end.
He took a pass from Kurt Zouma and left James Maddison behind with a Cruyff turn before rifling a right foot shot high into top corner of Schmeichel’s net from 25 yards.
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