Monaco swap Tielemans for Leicester's Silva
Tielemans joined Monaco from Anderlecht in 2017 but has struggled to fulfil his undoubted potential, while Silva has been unable to break through for Leicester.
Silva played under Leonardo Jardim at Sporting CP and will be reunited with his old boss at Stade Louis II.
"I am very happy to join Monaco," Silva told the club's official website.
"I look forward to meeting my team-mates, and doing my best to help the club reverse the situation."
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— Leicester City (@LCFC) January 31, 2019
Belgium international Tielemans, meanwhile, is keen to get started after joining the Foxes, with both players switching clubs for the rest of the season.
"I'm really excited to get going," the 21-year-old told Leicester's website.
"The Premier League is one of the best leagues in the world and when I was young, I always watched Premier League games. I'm really happy to be here and I'm excited to get started.
"It's a big family. Everybody is really kind and really good with me. I think it will be really good here."