A sixth convict was sentenced to 10 years in jail.
Principal Judgeof Gadchiroli district and sessions court Suryakant Shinde delivered the verdict after a three-year-long hearing in the case.
Besides Saibaba, the others to get life term were Hem Mishra, Prashant Rahi, Mahesh Tirkey and Pandu Narote.
Vijay Tirki was awarded 10-year rigorous imprisonment. The judge also imposed a fine of Rs 1,000 each on the convicts.
The wheelchair-bound professor of English, who is 90 per cent disabled, and the convicts are currently out on bail. They were in the court when the verdict was pronounced.
JudgeShinde observed "the accused No 1 to 6 are active members of CPI (Maoist), a banned organisation, and its front Revolutionary Democratic Front (RDF)."
"The prosecution has proved all the accused conspired together for carrying out illegal and violent activities of the banned organisation," he said in his 826-page verdict.
During hearing, Special Prosecutor P Sathianathan had demanded life imprisonment for the accused. He said disability of Saibaba never came in way of him attending conferences in India and abroad, and abetting Naxal activities.
Defence lawyer Surendra Gadling said they would challenge the order in the Bombay High Court.
Hem Mishra was arrested along with Mahesh Tirkey and Pandu Narote at Aheri in Gadchiroli district in August 2013.
(Reopens LGB5)
Tirkeyand Narote are residents of Gadchiroli district, while Mishra and Rahi hail from Uttarakhand. Tirki is a native Chhattisgarh, while Saibaba resides in New Delhi.
The court said Tirki, who was handed 10-year jail term, was only found guilty of taking Rahi for a meeting with Naxals in forests of Gadchiroli.
Special Prosecutor Sathianathan expressed happiness over the judgement and said electronic evidence collected by the police nailed Saibaba.
The police had seized items like pen drives, hard discs and Naxal literature during a search at Saibaba's residence.
A large number of people had gathered in the court premises to hear the verdict and police made elaborate security arrangements.
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