Kane had taken advantage of Vardy's two-game ban to move three goals ahead of his England team-mate in the Premier League goal standings.
But not content with a title winners' medal, Vardy struck twice against Everton in a fine 3-0 win at the King Power Stadium to cap a stunning season for the Foxes.
Vardy opened the scoring after just five minutes, racing onto Andy King's pass to clip the ball home.
King then added Leicester's second before half-time, and Vardy made it three after the break from the penalty spot.
Matthew Pennington brought the England forward down in the penalty area, and Vardy stepped up to smash home his 24th of the season after 64 minutes.
Vardy had the chance to move level on goals with Kane from the spot again after Darron Gisbon took out Jeff Schlupp, but Vardy slammed his second spot-kick of the afternoon well over the bar.
That miss means Kane still sits top of the rankings with two games left to play, though Sergio Aguero is only a goal behind ahead of Manchester City's clash with Arsenal on Sunday.
Vardy has one more chance to finish the season as top scorer, with a trip to Chelsea on May 15.
Kane will face Southampton at White Hart Lane on Sunday before taking on Newcastle away on the final day of the season.
Andrea Bocelli sings Nessun Dorma in front of a packed King Power Stadium.
5/19
Immortality awaits
The Premier League trophy was prepared for Leicester on Saturday afternoon.
6/19
Not long now
The Foxes would soon have their hands on the famous trophy.
7/19
King Claudio
Fans just couldn't keep themselves away from a new painting of Claudio Ranieri in Leicester.
8/19
Earned, not bought
One fan makes his feelings known about some of Leicester's Premier League rivals.
9/19
Foxy fans
There were plenty of costumes in and around the King Power in the run-up to kick-off.
10/19
Fox cub
One young Leicester fan will surely never forget this day.
11/19
A bit of blue
It was easier to spot the Leicester fans without face paint than with it.
12/19
Arts and crafts
One fan with a homemade title - the players won't have to settle for cardboard, though.
13/19
Turn on the style
A sea of blue and white flags welcomed the teams.
14/19
Foxes in full voice
Bocelli thanks Foxes fans for the superb atmosphere.
15/19
No going back now
Fans poke fun at Gary Lineker, who promised to present Match of the Day in his underpants if his team won the league,
16/19
Vardy party
Jamie Vardy celebrates after scoring the opener.
17/19
A true blue
Leicester celebrate with Vardy after his comeback goal.
18/19
Foxes squad
Leicester's title-winning squad.
19/19
Teamwork
Ranieri and captain Wes Morgan lift the trophy.
Premier League Golden Boot race: Leicester title party Jamie Vardy closes on Tottenham Harry KaneGalleryPublishedMedium width1Saturday, May 7, 2016 - 19:23OnEnable video endboarddefault
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