15/12/2016 10:28 AM AEDT | Updated 15/12/2016 12:51 PM AEDT

Former NSW Politician Eddie Obeid Sentenced To Three Years In Prison

The former Labor MP will be eligible for release in 2019.

Former NSW Politician Eddie Obeid has been sentenced to a minimum three years in prison for misconduct over business dealings, bringing to a close a long running and complex chapter of political corruption in the state.

In June a Supreme Court jury found Obeid guilty of misconduct in public office after he lobbied a former NSW Maritime bureaucrat give favourable conditions to Circular Quay leaseholders without revealing he had an interest in the businesses.

Obeid, 73, was sentenced to a minimum three years jail, non-parole, and a maximum of five on Thursday by Supreme Court Justice Robert Beech Jones. He will be eligible for release on 15 December 2019.

"If Obeid had not willfully abused his position as a Parliamentarian, then his life and career would be a testament to the values of hard work, family and public service," Justice Beech Jones said during his two-hour judgment on Thursday.

"Instead, his time in public life has produced a very different legacy."

"Given the nature of the offending and notwithstanding Mr Obeid's personal circumstances, I am satisfied that, having considered all possible alternatives, no penalty other than imprisonment is appropriate."

One of the business deals exposed by an Independent Commission Against Corruption investigation related to his family's secret interest in two cafe leases on the bustling wharves at Circular Quay.

The the former NSW Labor minister and powerbroker famously boasted there was only a "one per cent" chance of there being criminal charges after the ICAC made adverse findings against him.

Obeid's barrister, Guy Reynolds, SC, has reportedly already flagged an appeal.

"The prospects of Mr Obeid succeeding ... on appeal are extremely high," Reynolds said.