A sample of pp collision data, corresponding to an integrated luminosity of 5.5 fb−1 and collected by the LHCb experiment during LHC Run 2, is used to measure the ratio of the lifetime of the Ξb− baryon to that of the Λb0 baryon, rτ≡τΞb−/τΛb0. The value rτ=1.076±0.013±0.006 is obtained, where the first uncertainty is statistical and the second systematic. This value is averaged with the corresponding value from Run 1 to obtain rτRun 1,2=1.078±0.012±0.007. Multiplying by the world-average value of the Λb0 lifetime yields τΞb−Run 1,2=1.578±0.018±0.010±0.011 ps, where the uncertainties are statistical, systematic, and due to the limited knowledge of the Λb0 lifetime. This measurement improves the precision of the current world average of the Ξb− lifetime by about a factor of 2, and is in good agreement with the most recent theoretical predictions. © 2024 CERN, for the LHCb Collaboration 2024 CERN