The average b-hadron lifetime has been measured using a high statistics sample of B -> J/psi X decays recorded with the Collider Detector at Fermilab. We use a sample with an integrated luminosity of \approx 90 pb^-1 recorded during the 1994-95 running period. The decay vertices of \approx 62656 inclusive J/psi -> mu^+mu^- candidates have been reconstructed using information from a silicon vertex-detector. The measured B lifetime, which is the average over all b-hadrons produced in ppbar collisions at sqrt s = 1.8 TeV weighted by their branching ratios into J/psi, is 1.524 +/- 0.015 (stat)^+0.035_ -0.026 (sys) ps. The precision of this measurement is significantly improved compared to the inclusive lifetime measurement published previously using \approx 10 pb^-1.