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The 52-year-old Losicco, who had been incarcerated for 415 months, was an inmate at the Fishkill Correctional Facility.
He was scheduled to report to a parole officer in Peekskill Thursday and be fitted with a GPS monitor, according to lohud.com. It has not been disclosed where in Rockland Losicco will live, the report said.
Losicco was convicted of three second-degree murder counts, two counts of first-degree robbery, three counts of first-degree burglary, one count of second-degree assault and one count of three-degree grand larceny.
A statement from the parole board, which was written in all caps, argues that Losicco engaged in "significant rehabilitation efforts."
"This panel does not believe your release is incompatible with the welfare of society and further believes that you can live a law abiding life," the statement added.
Losicco was given several conditions of parole, including efforts to seek employment and/or vocational training, submitting to substance-abuse testing, refraining to alcoholic-beverage consumption and not communicating with David Hollis.
Hollis and Losicco were living at nearby Lincoln Hall, a minimum security juvenile treatment center in Somers, and were accomplices in the break-in of Prouty's home.
Other conditions of the parole were redacted from the DOCSS announcement.
Losicco was 16 at the time of the murder and Prouty, a retired Reader's Digest editor, was 67. He was sentenced to 25 years to life in prison and first became eligible for parole in 2005.
Losicco was denied parole seven times over the past decade before getting approval on Jan. 19. The denials were given in 2005, 2007, 2009, 2011, 2013, 2014 and 2015. He was originally not eligible for another hearing until 2017 but made a successful appeal of his 2015 denial, according to The Somers Record.
Tom Auchterlonie contributed to this report.
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