The Indian boxer shared the bronze with Darren Sutherland of Ireland.
Britain's James DeGale won the gold, outpointing Cuba's Emilio Correa Bayeaux (who beat Vijender in the last four).
Vijender is the first Indian boxer to win an Olympic medal.
His performance was impressive to say the least. He breezed into the second round of the 75kg category with a dominating performance against Gambia's Jack Badou, walking away with a facile 13-2 result.
He was too good for Chomphuphuang Angkhan of Thailand in the next round, winning 13-3, and thereby avenging his defeat against him at the President's Cup in Chinese Taipei in April.
He beat Carlos Gongora of Ecuador in the quarter-finals, getting a 9-4 verdict, to assure India an unprecedented third medal.
Vijender finally had to settle for a bronze after being out-punched by Pan American champion Correa Bayeaux 8-5 in the semi-finals.