The former Everton player "was sentenced to a fixed-term imprisonment of 20 years at an initial trial", Xinhua said, without giving further details.
China President Xi Jinping has waged a sweeping crackdown against official corruption since coming to power over a decade ago.
Anti-graft authorities took aim at the sport industry in 2022 and besides Li, numerous former football administrators were also convicted this week.
Li, who was China coach from January 2020 until December 2021, pleaded guilty earlier in 2024 to accepting over US$10 million (S$13.5 million) in bribes.
The 47-year-old is one of China's most recognisable former footballers, and notably played as a midfielder with English Premier League side Everton.
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