Simpson was convicted on multiple charges involving the holdup of two sports memorabilia dealers at a Las Vegas hotel room.
On Wednesday, the Nevada Board of Parole Commissioners released its decision in favor of Simpson's parole request, noting Simpson's "positive institutional record" and his participation in programs addressing "behavior that led to incarceration."
The parole becomes effective Oct. 2. Then, Simpson will begin serving the minimum term on four concurrent sentences imposed for using a weapon during the 2007 robbery. He will have another parole hearing on those sentences in a year.
After that, he has two more consecutive terms for assault with a deadly weapon, said David Smith, spokesman for the board.
The Associated Press contributed to this report.