The South African paralympian will be released from Kgosi Mampuru prison in two months time, when he will be eligible for house arrest.
According to various international media houses, Pistorious family member, who did not want to be named, said: "Oscar will be released on parole by the end of August."
However, the 'Blade Runner's' acquittal over a charge of murder is set to be appealed. South African authorities have until August 17 to enter papers to appeal a judge's decision.
Pistorius shot and killed Miss Steenkamp on February 14, 2013. He claimed he thought she was an intruder. Pistorius, 28, was seen as the poster boy of the Paralympic movement.
He had both legs amputated below the knee when he was just 11 months old, due to a childhood disorder.
However, he took part in sport at school and turned to running after getting a knee injury playing rugby when he was 16.
He had special 'racing blades' fitted and, just one year after taking up athletics, won Paralympic gold at the Athens games in 2004 in the 200 metres.
But his attempts to compete against able bodied athletes were put on hold in 2007 due to claims his prosthetics would give him an unfair advantage.
The IAAF decided they were not legal, but the decision was overturned. He competed in both the 2012 Olympics and Paralympics, held in London.
Pistorius began dating Miss Steenkamp, a model, in November 2012. But less than four months after they started their relationship, Pistorius fatally shot her.
He was acquitted of murder, but found guilty of manslaughter.
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