Chris Mahlangu, 29, had pleaded guilty but argued that he acted in self-defense in what the judge found was a violent dispute over wages.
Mahlangu has said he feels he did no wrong by ridding the world of a man some called a monster.
The judge had rejected a defense argument that Mahlangu had been sodomized by Terreblanche.
A second man, who was a teenager at the time of the killing two years ago, was sentenced Wednesday to a two-year prison sentence which means he goes free.
Twenty white protesters with a black man with a rope around his neck carried a plaque saying: “Hang Mahlangu.”
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