The case against the former president, who is 86 and kept in a military hospital under guard, is one of two the former president has against him.
He was ousted from the presidency in 2011 following a popular uprising after close to three decades of power. Mubarak is also being tried for the killings of protesters during the popular uprising.
The two sons of Mubarak, Gamal, the one-time heir to the presidency and Alaa a wealthy businessman were also found guilty on Wednesday of embezzlement and handed prison terms of four years.
The three family members were convicted on charges of embezzling millions of dollars in state funds over the last decade of rule of Mubarak.
The funds had been destined for maintaining and renovating the presidential palaces, however they were used instead to upgrade the private residences of the Mubarak family.
The judge in the case said it was the responsibility of Hosni Mubarak to restrain both himself and his two sons from embezzling the state funds, but instead, Mubarak himself along with his sons the license to steal them.
The Mubaraks were fined an additional $2.9 million and must reimburse $17.6 million to Egypt’s state treasury. The conviction can be appealed to a higher court.
Over 120 million in Egyptian pounds was returned by the Mubaraks connected with this case. However, the court proceedings continued against the three family members. Four other people who were defendants were all acquitted.
Mubarak appeared in court wearing a suit and tie, while his sons wore prison uniforms. The three have been held since 2011 but just the time served in connection with the graft cases, about a year, will be deducted from their sentences.
Egyptian law states that embezzlement maximum sentences can vary depending upon the crime, but 15-year sentences are not that uncommon.
In June of 2012, a court found Mubarak guilty of not stopping the killings of over 900 protestors in the revolt of 18 days. For that conviction, he received a life sentence.