The 22-year-old wide man first headed to Liberty Way back in October, where a productive five-game spell saw him score twice.
He joins two of his current City team-mates at Nuneaton – strikers Simonas Stankevicius and Marcel Barrington – both of whom joined the side on two-month loans.
Dawson joined the Foxes at the start of the 2013/14 campaign and proved to be highly effective from the flanks as the team stormed to a sixth-placed finish in the league.
The former Bury and Liverpool youngster will hope to be involved as second-bottom Nuneaton face Chester at home on Saturday.