David Nugent and Vardy fired the goals that gave Leicester victory.
Nugent claimed his eighth goal of the season with a clinical finish in the 17th minute and Vardy struck in the 64th minute.
In between Marc Pugh scored a spectacular 38th-minute goal but Leicester were good value for their sixth successive home league win that lifted them to second in the table.
With Ritchie De Laet still injured, Liam Moore again switched to right-back in an unchanged Leicester side.
Bournemouth had Ryan Allsop back in goal, with West Ham loanee Stephen Henderson ruled out for six months because of the dislocated shoulder he suffered in last week's 1-1 draw at Nottingham Forest.
Buoyed by that result the Cherries made a spirited start to the game, although they had another worrying moment when Allsop went down injured after bravely saving at Lloyd Dyer's feet but after treatment he was able to continue.
Elliott Ward was booked for tripping Vardy on the edge of the penalty area in the eighth minute, and from the free-kick, Wes Morgan got in a header that struck Vardy when it looked as though it might well have been goal-bound.
The Cherries continued to give as good as they got and Lewis Grabban twice came close to giving them the lead.
He had one shot deflected for a corner by Morgan and put another just wide of the far post.
But it was the Foxes who broke the deadlock in the 17th minute through Nugent.
Dyer collected a long ball down the left and set up Nugent for a shot on the left-hand corner of the penalty area. The in-form striker found the net with a clinical finish.
That lifted the home side and they enjoyed the lions' share of possession without creating any more clear-cut chances.
Ward was fortunate not to be sent off in the 36th minute when he kicked the ball away in frustration at not being given a free kick.
The referee had a long chat with him but did not produce a second yellow card.
Two minutes later the Cherries had even more reason to celebrate when Marc Pugh, the scorer of the late goal at Forest, bagged another equaliser, firing a stunning 20-yard shot into the roof of the net giving Kasper Schmeichel no chance of saving.
The Foxes nearly regained the lead on the stroke of half-time but Knockeart's shot went just wide.
Leicester were forced into an early substitution in the second half with the limping Nugent replaced by Chris Wood. And in the 53rd minute they had penalty claims turned down when Vardy looked to be fouled by Ward as he was about to shoot.
But in the 64th minute Vardy raced on to a pass from Wood and coolly rounded Allsop to give Leicester the lead their pressure had been threatening.
Two minutes later Ward's luck ran out when he tripped Drinkwater - and this time the red card was shown.
The Foxes dominated the rest of the half and, apart from a shot from Tokelo Rantie that went over the bar, Bournemouth were under pressure as Leicester clinched their ninth win of the season.