Erik and Lyle Menendez will have a new shot at freedom after spending 35 years behind bars for murdering their parents, a judge ruled Tuesday.

Los Angeles County Superior Court Judge Michael Jesic reduced the brothers' sentences from life without parole to 50 years to life.

"I'm not saying they should be released, it's not for me to decide," Jesic said. "I do believe they've done enough in the past 35 years, that they should get that chance."

They're now eligible for parole under California's youthful offender law because they were under the age of 26 when they committed the crime. The state parole board must still decide whether to release them from prison.

The brothers did not show any apparent emotion during most of the testimony as they appeared via livestream video.

"I killed my mom and dad. I make no excuses and also no justification," Lyle Menendez said in a statement to the court. "The impact of my violent actions on my family … is unfathomable."

Erik Menendez also spoke about taking responsibility for his actions and apologizing to his family. "You did not deserve what I did to you, but you inspire me to do better," he said.

'Redemption is possible': defence lawyer

The brothers were denied bail in 1990 after they were arrested for the 1989 murder of their father, Jose Menendez, and mother, Kitty Menendez, in their Beverly Hills home. They were subsequently convicted of first-degree murder in 1996 and were then sentenced to life without the possibility of parole. At the time of the killings Erik was 18 and Lyle was 21.

While defence attorneys argued the brothers acted out of self-defence after suffering years of sexual abuse by their father, prosecutors said the brothers killed their parents for a multimillion-dollar inheritance.

The case has captured the public's attention for decades. Supporters of the brothers have flown in from across the country to attend rallies and hearings in the past few months.

"I just know that on a day like today, redemption is possible," defence attorney Mark Geragos said. "The fact is the Menendez brothers have done remarkable work. Today is a great day after 35 years."

"We have evolved," Geragos said. "This is not the '90s anymore. We have a more robust understanding of a lot of things."