The forward seemed likely to move to Arsenal following Leicester's fairytale title campaign in the 2015/16 season as the Gunners had activated his £20m ($26m) release clause.
However, unlike N'Golo Kante, Vardy opted to remain at the King Power Stadium as he extended his Leicester contract by four years, ending any further speculation about his future.
The Foxes continued their fairytale run in the 2016/17 season as they defied the odds to reach the Champions League quarter-finals, only to bow out to La Liga's Atletico Madrid.
Their performances in the league suffered though, as they languished near the relegation zone for majority of the season before eventually finishing in 12th place with Vardy contributing with 13 league goals.
Despite their failed title defence, Vardy believes he made the right decision as he gets set to face Arsenal on the opening day of the 2017/18 season.
"I have no regrets whatsoever. I have made some great decisions in my life," Vardy said, as quoted on The Mirror. "Since I have been here we have had play-off heartache to winning the league, battling relegation to stay in the league to avoiding relegation to finish mid-table."
"Who knows it might be another good season. We will have to wait and see what the club's plans are for where they want us finishing and we will be putting our all in to do that."
Having finished joint-second top scorer in the 2015/16 season with 24 goals, Vardy is hopeful of topping his dropped tally of 13 goals from last season.
"Obviously I want to score more than I did last year," he added. "That is down to me with my striking and making sure I am getting the goals so I am playing on a regular basis to do that."
"Then if I have had a good season who knows? It could be the World Cup next year."