Fryatt had missed the whole pre-season schedule with a leg infection and some reports suggested that he would miss the Championship opener against Swansea.
However, Pearson named last season's top goalscorer on the bench, a move which turned out to be a masterstroke from the City boss.
On the hour mark, Fryatt replaced Dany N'Guessan in attack and in the 84th minute, Fryatt scored the winner, picking up a Richie Wellens pass after Steve Howard had picked the ball out of the air, Fryatt skipped past the 'keeper to finish off an excellent move.
The Foxes played some impressive football at times against a decent Spanish side and a 1-0 win was arguably a fair result.
Today's match was the last chance for the Foxes faithful to gather clues surrounding Pearson's team selection before the season opener, next Saturday at home to Swansea City.
Leicester (4-4-2): Weale, Morrison, Hobbs, Brown, Berner, Oakley, Wellens, King, Dyer, Howard, N'Guessan. Subs: Fryatt, Logan, O'Neill, Tunchev, Adams, Dickov, Gradel, Powell, Neilson, Chambers, Ajdarevic, Verma.