The 30-year-old joined Dale in May 2013 and made a total of 152 appearances for the club, helping them win promotion from League Two in 2013-14.
Vincenti started his career at Millwall and has also played for Stevenage, Mansfield and Aldershot.
"Not only is he a very good player, he is versatile and experienced," Coventry boss Mark Robins told the club website.
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Coventry City have signed midfielder Peter Vincenti on a two-year deal after he left Rochdale by mutual consent.