Suzuki said separately that it had signed Ducati's Italian Andrea Iannone to replace Vinales, who had his first MotoGP podium finish when he finished third in France earlier this month.
Vinales, 21, will partner Italy's nine times world champion Valentino Rossi.
Rossi, 37, signed a contract extension in March to continue with Yamaha to 2018 in a deal likely to see out his career at the top level of motorcycling.
Triple MotoGP champion Lorenzo, who leads the standings ahead of this weekend's Italian Grand Prix at Mugello, is joining Ducati at the end of the season.
Original source: This is Lorenzo’s replacement at Yamaha