The 35-year-old admitted 18 breaches of the ECB's anti-corruption regulations, relating to three fixtures in county cricket.
The games in question included a Twenty20 clash while playing for Lancashire, as well as a fixture against the same county during his time at Sussex.
Vincent admitted his guilt in a statement on Tuesday, revealing he had "abused my position as a professional sportsman on a number of occasions by choosing to accept money in fixing".
The 23-time Test cap was charged in May alongside former Sussex team-mate Naved Arif and has now seen his career end in disgrace.
ECB Chief Executive David Collier said: "This has been a complex case which has crossed different cricketing jurisdictions and required close collaboration and intelligence-sharing between both our own anti-corruption unit, other domestic boards and the ICC’s ACSU.
"We are extremely pleased that the matter has now been brought to a satisfactory conclusion and that an individual who repeatedly sought to involve others in corrupt activity for his own personal gain has accepted that his conduct warrants a lifetime ban from cricket.
"It once again highlights our resolve to keep cricket clean and rid the game of the tiny minority who seek to undermine the sport’s integrity."
Sussex revealed they had fully co-operated with the investigation and will now look to put the issue behind them.
"The episode has been a very difficult time for our players, staff and indeed all supporters of Sussex Cricket," a statement read.
"We are determined to do all we can to drive this issue away from our game and remain vigilant and committed in doing so."
New Zealand Cricket also released a statement backing the ECB's decision to ban Vincent.
In it, chief executive David White said his organisation was a strong advocate of the anti-corruption drive in cricket; was appalled by Vincent's actions, and supported the penalty handed down.
"Unfortunately, and as has been well-documented over recent months, Mr Vincent is also involved in a different capacity with a British police investigation," said White.
"As such NZC is unable to comment on matters which might yet need to be tested in a court of law."