The Death Row founder will be credited time served for the 3 1/2 years he spent in jail leading up to his sentencing. The second man, Cle "Bone" Sloan, was left with a badly mangled left foot and head injuries.
The 53-year-old, born Marion Knight, was originally charged with murder after he ran over Terry Carter, a hip-hop record label owner, after an altercation in the parking lot of a hamburger restaurant in Compton, Calif.
Knight was facing murder, attempted murder, and hit-and-run charges stemming from an incident that took place in January 2015 outside Tam's Burgers in Compton. He'll also be on parole for 3 years after serving his prison sentence.
Knight fled the scene, but the incident was captured on surveillance video. The AP reports that Knight pleaded no contest to a charge of voluntary manslaughter in the case, which was part of a plea deal he struck with prosecutors.
The plea agreement additionally resolves two other 2014 cases, in which he was accused of stealing a camera from a woman and of sending threatening text messages to F. Gary Gray, the director of Straight Outta Compton.
Knight's lawyers maintain he was acting in self-defence as he fled armed attackers when he ran over Mr Carter and Mr Sloan.
During Thursday's hearing, Knight, wearing orange jail attire with his arms and legs in chains, answered Judge Ronald Coen's questions, loudly and quickly saying "no contest" when the judge asked for his plea.
But at one point when asked by the judge if he understood his plea could lead to deportation were he not a USA citizen, Knight joked: "Is ICE (Immigration and Customs Enforcement) gonna come and get me?"