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In 1982, with fellow Fuller missions professor Peter Wagner, Kraft became an early proponent of the teaching and ministry models of John Wimber, and helped popularize the "Third Wave of the Holy Spirit" which Wimber's Vineyard Movement represented.
Kraft's published books include Confronting Powerless Christianity (2002), Culture, Communication and Christianity (2001), I Give You Authority (1997), Anthropology for Christian Witness (1996), Deep Wounds, Deep Healing (1994), Defeating Dark Angels (1992), Communication Theory for Christian Witness (1983, 1991), and Christianity in Culture (1979, revised 2005). He has taught and ministered in Nigeria, Korea, Thailand, Papua New Guinea, Australia, India, Denmark, Norway, England, Holland, New Zealand, South Africa, Canada, Japan, Switzerland, and Germany.
Kraft writes and teaches about biblical Christianity and culture (including contextualization), communicating biblical Christianity, anthropology and Christianity, cross-cultural Christian theology, worldview, spiritual warfare, inner healing, generational curses, and the evils of Freemasonry. He believes that Freemasonry, "is one of the most evil organizations in the world." In addition to his work at Fuller, Kraft is the president and founder of Deep Healing Ministries, a deliverance ministry, and conducts seminars and exorcisms around the world. He lives in California with his wife. He serves as the Vice-President of Hearts Set Free Ministries where he conducts seminars on spiritual warfare, healing and deliverance.