The Lambda (+)(c) lifetime is measured using 9.0 fb(-1) of e(+)e(-) annihil
ation data collected on or just below the Y (4S) resonance with the CLEO IL
V detector at CESR. Using an unbinned maximum likelihood fit, the Lambda ()(c) lifetime is measured to be 179.6 +/- 6.9(stat) +/- 4.4(syst) fs. The p
recision of this colliding beam measurement is comparable to other measurem
ents, which are based on fixed-target experiments, with different systemati
c uncertainties.