The four parole commissioners unanimously voted to grant Simpson parole, meaning he can leave the Lovelock Correctional Center as early as October 1.
Simpson was arrested in 2007 in Las Vegas for the armed robbery of Fromong and another sports memorabilia dealer, whom the former Buffalo Bills star accused of stealing his property and trying to sell it.
However, Simpson admitted spousal abuse in 1989 after police responded to a domestic violence call at his home.
During Thursday's hearing, Simpson, 70, faced a large flat-screen video monitor at Lovelock Correctional Center and answered questions via closed-circuit video from the parole board.
Come back here on Thursday at 12:30 p.m. ET for live updates from Simpson's hearing.
O.J. Simpson's days in a Nevada prison may be numbered. "I want to get back to my kids". "I'm at a point in my life where I'd like to spend as much time as I can with my children and my friend". "But I could have been a better Christian, and my commitment to change is to be a better Christian." .
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The board, of four members, will consider his bid for freedom from 6pm.
Despite the flurry of recent films about Simpson, he hasn't spoken publicly since his last parole hearing in 2013. No one spoke out in opposition to Simpson's release during the hearing.
Earlier, he insisted he had always been a "good guy" before his conviction and was not a danger to the public.
"Motherf*****s think you can steal my s*** and sell it", Simpson said, according to audiotape made by one of the men in his group.
Simpson, centre, reacting as the jury finds him not guilty of the murders of his ex-wife and her friend in 1995 (Picture: AP) Simpson on June 21, 1995, putting on a new pair of gloves similar to the infamous bloody gloves presented during his double-murder trial.
Arnelle Simpson, O.J.'s oldest child, also addressed the board on behalf of her family and said she has remained close to her father throughout his incarceration.
"I've spent a conflict-free life", the prisoner said to the board.