Anderton, expected to be named in the latest England squad on Saturday night, pulled the strings from central midfield and capped his performance with a sweet strike for the opening goal.
At the heart of most our good work, Anderton made no mistake to beat his former team-mate Walker from 10 yards for the crucial opening goal after 35 minutes and was there again to provide Simon Davies with the second on the hour.
Walker said in the week that Anderton had to go to the World Cup and on this form, few could argue.
Anderton was joined by Davies in midfield with Gus Poyet suspended while both Matthew Etherington and Ben Thatcher held on to their places in the starting line-up after impressing against Bolton.
Les Ferdinand started in place of Sergei Rebrov, who dropped to the bench alongside Teddy Sheringham.
A subdued first half came to life after 18 minutes. Ferdinand played a one-two with Iversen and drilled a low shot just wide from 20 yards.
A minute later City had their first attempt as Davidson's rasper through a crowd of players was tipped aside by an alert Sullivan.
Ferdinand's close-range poke from Anderton's cross was saved by Walker and it was deja-vu at the other end as Davidson connected well with a loose ball from a corner but a block took the sting out of the effort.
Etherington's early shot on the run might have caught Walker out if it was on target and as we started to dictate, the breathrough followed after 35 minutes.
The goal was all about Ferdinand and Iversen's aerial ability. King opted to take a free-kick short to Taricco on the half-way line, Ferdinand won his cross, Iversen won the second ball and Anderton pounced to volley beyond Walker from 10 yards.
Iversen had the best chance of the half three minutes later. He latched onto another Anderton pass and was through on Walker, at a tightish angle, but shot across goal. The final action of the half saw Richards head Anderton's corner over.
The early exchanges second half were somewhat scrappy until Anderton's intervention on the hour. Ferdinand rolled the ball into him in the area and he held off Laursen before crossing low for Davies to deflect home at the near post.
City, showing no lack of spirit, hit back straight away and Stewart's cross fell agonisingly behind Davidson.
Alton Thelwell then came on for the unlucky Thatcher whose face blew up after a clash of heads.
The game was starting to open up and Etherington started to get more joy down the left flank. The highlight was a 50-yard run after 69 minutes - this time his cross evaded everyone - and the winger was involved again as Taricco's cross was flicked inches wide by Ferdinand.
Iversen was inches away from the third goal after 73 minutes. Davies picked his run out from midfield, Iversen took the ball superbly and lobbed the advancing Walker only for the effort to hit the bar, bounce over Ferdinand's head and back into Walker's hands.
Etherington forced Walker into action again minutes later, a low save to his left after a run and shot but it was Foxes who were to register next.
A disputed free-kick was awarded on the edge of the box and after some deliberation, Oakes simply smashed it into the top corner.
It all threatened to get out of hand when Savage flew into a tackle with Ferdinand. Impey and Taricco also had a bust up and the end result was a yellow card to the City defender.
Sullivan produced the save of the match to deny Davidson with five minutes left, a reaction block from 15 yards and at the other end Rebrov, on for Ferdinand, lobbed just over.
Leicester tried in vain to carve out another chance but it was Anderton's day.
Man of the moment Darren Anderton gave another inspirational display as we overcame dogged Leicester City at the Lane.