Former NSW Labor MP Eddie Obeid will be released on parole next month after serving three years behind bars for misconduct in public office.

Former NSW Labor MP Eddie Obeid in December 2016. Credit:Daniel Munoz

The State Parole Authority said Obeid, 76, was granted parole after a private meeting on Friday. His first available release date is December 14.

Obeid will be subject to the standard parole conditions, including that he must be of good behaviour and seek the permission of the parole authority to leave the country.

He is also subject to an additional requirement that he "not engage in any activity paid or unpaid involving the control of money or assets of other people or organisations".