The jury at Moscow city court found four defendants guilty of organising the shooting of Politkovskaya at the entrance to her apartment block while the fifth, Rustam Makhmudov, was found guilty of carrying out the killing, the Interfax news agency reported.
The shooting of Politkovskaya, a journalist for liberal newspaper Novaya Gazeta who strongly criticised the Kremlin's tactics in Chechnya, shocked the world, but this is the first time that those directly involved in the killing have been brought to justice.
The jury verdict came after an earlier trial in the murder involving several of the same defendants ended in an acquittal in 2009.
A former policeman Dmitry Pavlyuchenkov, who was accused of tracking Politkovskaya so she could be assassinated and providing the murder weapon, was in 2012 sentenced to 11 years in a prison camp.
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Dzhabrail and Ibragim Makhmudov and Khadzhikurbanov had already been tried and acquitted over the affair. The supreme court then halted a retrial and sent the case back for more investigation, which resulted in the current trial.
Sentencing will begin tomorrow at 0900 GMT, Novaya Gazeta wrote on its website.
Politkovskaya made powerful enemies with her fearless reporting and exposure of atrocities carried out by pro-Kremlin armed groups in Chechnya.