Mr Drakeford told a Welsh government press conference in Cardiff that the measure was necessary to reduce the spread of coronavirus and prevent the NHS from becoming overwhelmed.
The “sharp and deep” lockdown will begin at 6pm on October 23rd and last until November 9th, with everyone in Wales “required to stay at home”.
“The only exceptions will be critical workers and jobs where working from home is not possible,” Mr Drakeford said.
Mr Drakeford said the lockdown would be a “short, sharp, shock to turn back the clock, slow down the virus and give us more time”.
Under the measures, all non-essential retail, leisure, hospitality and tourism businesses will close “just as they had to during the March lockdown”.
Community centre, libraries and recycling centres will also close, while places of worship will also be shut other than for funerals or wedding ceremonies.
Childcare facilities will stay open, with primary and specialist schools re-opening after the half-term break.
People will not be able to meet indoors or outdoors with anyone they do not live with, with exceptions for those living alone.