The Parliament voted 155 to 49 to dismiss Bandaranayake, 54, whose recent rulings had gone against the government of President Mahinda Rajapakse who is widely expected to approve her sacking.
"The motion (to impeach) was carried with 155 voting for and 49 against," Speaker Chamal Rajapakse said at the end of a two-day debate on a controversial Parliament Select Committee (PSC) report which found Bandaranayake guilty of misconduct on three counts.
She was accused of financial impropriety based on non declaration of assets and conflict of interest in a case involving a failed investment company.
Twenty MPs were not present during the voting which was held amid tight security. Four government MPs, including two senior ministers, were among those absent at the vote.
Speaker Chamal Rajapaksa overruled opposition protests that a vote should not be taken.
The debate took place despite a Supreme Court ruling issued early this week which said that the select committee's proceedings were illegal.
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Later, the Appeals Court also quashed the PSC's findings.
Bandaranayake now awaits a decree from the President Rajapaksa which would formally announce her sacking.
The impeachment which sent the country into the throes of a major constitutional crisis was caused by a simmering dispute between the judiciary and the executive arms of government.
The ruling coalition took exception to several rulings by Bandranayake which they said were unfavourable to the government. (more)