The Shanghai Shenhua club was also fined 1m yuan ($160,000: £103,000) and stripped of its 2003 league victory for fixing a match on its way to the title.
In recent years, China has increased efforts to clean up football, which has been hit by a series of scandals.
Over the past year, more than 50 officials, referees and players have been jailed.
The corruption and rigging has at times been blatant, says the BBC's John Sudworth in Shanghai.
One infamous match ended with a team clearly seen trying to score an own goal, he says.Attracting talent
Shanghai Shenhua was found guilty of offering bribes to officials to secure it a 4-1 victory against Shanxi Guoli, Chinese media report.
UK premier league star Didier Drogba stayed at Shanghai Shenhua for just one seasonIn addition to the fine, it was given a six-point penalty for the coming season, as was another top-division side, Tianjin Teda, which was also fined 1 million yuan, said China Daily.
In total, 12 clubs have been given financial or points penalties, Xinhua reports.
Among the officials banned for life were two former heads of the football league, Nan Yong and his predecessor Xie Yalong, who are already serving 10-and-a-half years each in jail after being convicted of accepting bribes.
Another 25 players and officials have been given five-year bans.
China's football authorities hope that by cracking down on corruption cases they will raise standards and attract foreign talent to play in the country, says our correspondent.
But they clearly have some way to go, he adds. Former English premier league players Didier Drogba and Nicolas Anelka were recently signed to Shanghai Shenhua, but left after just one season.
