The ECB announced a life ban on Vincent in 2014 after the disgraced player admitted he was a "cheat" and had shamed his country and the sport by fixing matches.
Vincent was given 11 lifetime bans after he pleaded guilty to 18 breaches of the board's anti-corruption regulations in three matches in England.
He was barred from playing or coaching in any form of recognised cricket.
However, the ECB's Cricket Discipline Commission said on Friday that the decision to relax the ban was reached after considering the circumstances of his case along with his "full and frank admissions and disclosures" and his "total cooperation" with the authorities.
"I made a terrible mistake many years ago which I'll deeply regret for the rest of my life, and I remain very sorry for the harm I caused," Vincent, 45, said in a statement.
"Being able to return to the cricket environment means the world to me and I feel very fortunate to again have that opportunity."
Vincent, who played 23 Tests and more than 100 one-day internationals for New Zealand, had been investigated for being involved in attempting to manipulate 12 matches in five countries between 2008 and 2012.
He pleaded guilty to offences relating to two matches he played for English county Sussex in August 2011 - a T20 contest against Lancashire and a 40-over clash with Kent - plus another T20 match between Lancashire and Durham in 2008.
Vincent was reported to be living in Lumsden, in New Zealand's Southland, earlier this year.
