The Foxes tweeted the news after Saturday's nights horrendous helicopter crash cast doubt over the Premier League game.
A minute’s silence will be observed before kick-off and players will wear black armbands in Vichai Srivaddhanaprabha's honour.
A club statement read: "Leicester City’s Premier League fixture at Cardiff City this Saturday (3 November) will go ahead as scheduled, as the Club continues its tributes to its late Chairman, Vichai Srivaddhanaprabha."
A club statement continued: "A minute’s silence will be observed before kick-off at the Cardiff City Stadium and players will wear black armbands in Khun Vichai’s honour.
"An announcement on the rearrangement of the Club’s EFL Cup Fourth Round tie against Southampton, postponed earlier this week, will be made in due course."
Leicester decided to go ahead with the game after conferring with the squad – opting to call off the game if even only one star felt unready to play.
Reports claim the Foxes stars – along with Aiyawatt Srivaddhanaprabha – agreed they all wanted the match to be played.
Leicester players flocked to the King Power Stadium yesterday to pay their respects to their fallen owner.
And the tributes continued today, as Jamie and Rebekah Vardy lay a wreath in Vichai's honour, while Daniel Amartey also paid his own tribute.
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