Officials said the divorce was granted on grounds of domestic abuse, and the court also approved Lee's application for a three-month restraining order.
Xinhua News Agency said Li was told not to beat or threaten Lee.
The court also ordered him to pay his former wife $7,960 in compensation for her psychological trauma.
Xinhua said the court ruled that Lee will retain custody of the pair's three daughters. Lee will also receive child support for each of their daughters until they turn 18.
Li will keep the property, which is registered in his name, as well as the rights to his company, Xinhua said, but will pay Lee $1.9 million as a result.
Xinhua said Li created "Crazy English," a method that uses shouting to memorize the English language, in the 1990s.
In August 2011, Lee posted pictures of her injured hands after Li allegedly abused her.
A week later, Li apologized for beating his wife.