The channel will broadcast seven Friday matches this season, starting with the opener between Bayern Munich and Stuttgart.
Previously, matches in the UK and Ireland from the top German league were also broadcast via Mark Goldbridge's channel on YouTube.
"The addition of Vardy represents a different, player-driven format for how the Bundesliga reaches out through creators. It combines live football with the perspective and personality of one of the most famous Premier League players of recent years," the Bundesliga wrote in a statement.
The aim of Vardy and Goldbridge being given broadcasting rights is to reach new audiences. Traditional TV media such as Sky Sports and the BBC also broadcast matches from the Bundesliga.
Vardy, 39, is without a club after last season with Cremonese. He was a key player in Leicester's sensational Premier League victory in 2016 and scored seven goals in 26 appearances for England.
