First, ensure that your version of Eclipse and JDK match, either both 64-bit or both 32-bit (you can't mix-and-match 32-bit with 64-bit).
Second, the -vm argument in eclipse.ini
should point to the java executable. See
http://wiki.eclipse.org/Eclipse.ini for examples.
If you're unsure of what version (64-bit or 32-bit) of Eclipse you have installed, you can determine that a few different ways. See How to find out if an installed Eclipse is 32 or 64 bit version?