I want to know if it is possible to bake lights and materials by vray into rhino model and export it from grasshopper ,
No, you can’t
Rhino does not support V-Ray lights nor V-Ray materials. So there is nothing to bake them to.
- If you want to render GH definition in Rhino using V-Ray, you don’t need to bake anything - use RenderInProject component
- If you want to get the materials into the Asset Editor, you can export them as .vrmat files and import those files into AE