He first became eligible for release on parole in 2018.
The State Parole Authority on Friday said Skaf would be granted parole under strict conditions and 24/7 electronic monitoring.
Freeing Skaf at the end of his 23-year sentence in early 2024 without any conditions would have posed an unacceptable risk.
"This is the only opportunity to supervise a safe transition into the community in the small window of time that we have left," SPA Chairman David Frearson SC said in a statement.
Skaf - currently being held in a NSW minimum security facility - will be released no sooner than 1 October and no later than 8 October.
His parole conditions will include mandatory electronic monitoring, ongoing psychological treatment and a ban on travelling to the council areas of Liverpool, Fairfield, Blacktown and Parramatta.
Skaf is also obliged to submit a schedule of his plans and proposed activities to NSW corrections authorities for approval.
The parole order will apply until January 2024.
Skaf, then 17, and other members of his gang would lure teenage girls away from public places with the promise of smoking marijuana.
Some were then seized and repeatedly sexually assaulted.
Skaf's parole hearing in August heard that he continues to blame his victims and remained "a denier after all these years".
If you or someone you know is impacted by sexual assault, you can call 1800RESPECT on 1800 737 732 or visit 1800RESPECT.org.au.