Abramoff, 46, had pleaded guilty to defrauding lenders in a Florida gambling boat deal.
But he was not immediately sent to jail as he is cooperating in a corruption investigation in Washington, where he has owned up in court to a separate multi-million-dollar corruption case.
"I am much chastened and profoundly remorseful," Abramoff told the court.
During his heyday as a Washington lobbyist Abramoff had regularly socialised with top members of US President George W Bush's Republican Party.
The judge ordered Abramoff and his business partner in the Florida gambling deal, Adam Kidan, to pay restitution totalling US$21.7 million (A$30.7 million). Kidan received the same sentence as Abramoff.
The judge ruled that Abramoff would not need to surrender for at least three months due to his ongoing cooperation with goverment prosecutors.
In both cases, Abramoff made a plea deal with the government and agreed to cooperate in investigations of lawmakers who may be implicated in his web of alleged influence-peddling.
Plea bargain
As part of the plea deal, his prison sentence was substantially less than the maximum Abramoff initially risked in the Florida case.
Under the deal, the former high-flying lobbyist agreed to provide information, testimony and evidence, and to appear at judicial proceedings if required.
Abramoff and Kidan, have admitted they faked documents to falsely demonstrate they had contributed US$23 million for the purchase of the SunCruz line from Miami businessman Konstantinos Boulis.
Citadel Equity had agreed to fund US$60 million in loans toward the US$147.5 million deal, provided the buyers made a cash equity contribution of at least US$23 million dollars.
A few months after the sale, Boulis was slain gangland-style. Three men were arrested in connection with the murder last year. Abramoff and Kidan both denied any involvement in the killing.
The Washington case could lift the lid on political backroom deals and influence peddling in Washington, with up to 20 members of Congress are reported to be in the sights of prosecutors.
The scandal also has the potential to wound Mr Bush's Republican party ahead of Congressional elections in November. Democrats claim Abramoff raised more than US$100,000 for Mr Bush.