Presenters Ant and Dec initially told the duo that only one would succumb to the public vote, before revealing that both would actually be spending their last few seconds in camp.
Italian Vincent, a regular on Strictly Come Dancing, was one of two late additions to the camp - along with first evictee Annabel Giles - while Matthew had emerged as an early favourite with the public after undertaking multiple Bushtucker Trials and crying a lot.
Speaking after his exit, Vincent said: "I feel good. I had my time, my experience - I'm happy."
Talk show host and former tabloid journalist Matthew admitted he had to have therapy before going into the jungle.
Matthew, who was in tears after his first trial but grew to conquer his fears, said: "The turning point was probably the first trial.
"I didn't think I would get to do it. There were weeks of anticipation before I got into the jungle.
"I have never touched a spider in my life before - I had to have a bit of therapy."
Matthew tipped Westlife singer Kian Egan to become King of the Jungle, while Vincent said he wanted reality television personality Joey Essex to take the crown and win the series.
The pair join EastEnders actress Laila Morse and model-turned-television personality Annabel through the jungle exit door.
Earlier, ex-snooker champion Steve Davis had the presenters in stitches when he repeatedly failed while taking part in a jungle trial.
Steve, taking on the "Sc-Ayers Rock" task, slipped into the lake below before even starting his 10-minute balance task to claim stars for lunch.
Quipping throughout the trial, Steve, who had difficulty swimming in the lagoon and had to be equipped with an inflatable vest, finished with three stars for the 10 deflated campmates.
Completing the task, Steve said: "That was awful."
Elsewhere, actor Alfonso Ribeiro indulged Fresh Prince of Bel Air viewers with a rendition of the high-energy dance move he popularised while playing Carlton on the American sitcom.
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