The hospitality sector and close-contact services such as hairdressers have already been closed for five weeks.
Under new restrictions, to take effect for two weeks from Friday 27 November, non-essential retail and churches will also shut.
It means cafes and close-contact services, which are permitted to re-open this weekend, will be closed again one week later.
Pubs and licensed restaurants, which were due to re-open on Friday 27 November, will remain closed for another two weeks.
Schools will remain open but there is speculation about an extended Christmas break and some principals are urging Northern Ireland's education minister to follow his Scottish and Welsh counterparts and scrap exams.
Northern Ireland's new restrictions include:
Stormont's Health Minister Robin Swann had urged the power-sharing executive to impose further restrictions now.
He told ministers he feared a coronavirus lockdown in mid-December would not be enough to prevent hospitals becoming overwhelmed.
First Minister Arlene Foster said: "The executive has been presented today with the sobering prospect of our hospitals becoming overwhelmed within weeks.
"It is clear that a tough, carefully timed, intervention is required to give us the best chance to have a safe and happy Christmas and further into the new year period."
Deputy First Minister Michelle O'Neill said: "Seventy six people have lost their lives to COVID-19 in the last week alone.
"Hospital occupancy currently stands at 100%. Our hospitals remain under extreme pressure, as do the staff we depend on to deliver care.
"To do nothing would inevitably lead to the entire system becoming completely overwhelmed."
The 'R' number, indicating the transmission level of the virus, is sitting at around 1 in Northern Ireland, but hospitals are recording more in-patients than during the first wave.
The Northern Ireland Retail Consortium said the decision to shut non-essential shops could not come at a worse time for them.
Director Aodhan Connolly said: "The closure of non-essential retail during what is our golden quarter is a huge blow to retailers already feeling the squeeze of decreased footfall and increased costs.
"November and December are peak trading months and million of pounds per week will be lost in sales during what should be our busiest period."
Glyn Roberts, chief executive of Retail NI, said: "The executive has made a decision which will kill small business, rather than the virus. Christmas has come early for Amazon.
"This appalling decision will be a hammer blow to our already struggling high streets and for thousands of independent retailers forced to close at the most important trading time for the year.
"Tens of thousands of jobs and small businesses are now at risk with this ill-considered move."