The 20-year-old is the second player to arrive at Meadow Lane under the reign of caretaker boss Chris Kiwomya after Manchester United forward John Cofie joined last week.
Blyth is yet to make a senior appearance for the Foxes since joining from non-league Leamington in May last year.
He has already had a spell with npower League Two side Burton this season where he made two substitute appearances.
- Sports & Recreation
- Manchester United
- Chris Kiwomya