The Tigers' parent company, Leicester Football Club plc, have also declared a record turnover of Â£15.1million and their net cash totals Â£3.59million.
Company chairman Peter Tom said: "In a year in which we reached the knock-out stages of every competition we played in, this was the company's most financially successful year ever.
"In addition to recording a record turnover and profit, we were able to purchase the freehold to the ground and adjacent land needed for redevelopment.
"In the last three years, the company's turnover has increased by 50% and profits have tripled. This is an outstanding performance by a sports club and unparalleled in domestic club rugby in the UK."
When rugby went professional 11 years ago the sport was in a state of upheavel and many doubted whether a professional club competition was viable.
Tom believes Leicester's success is not only indicative of how the club game has flourished but how important the Premiership is to a winning England team.
"The success of professional club rugby is one of this country's great sporting success stories which everyone should be celebrating," said Tom.
"The quality of rugby played in the Guinness Premiership and Heineken Cup improves each season and this is not only good news for the Premiership clubs and their supporters, but also for the RFU and the England team."