Imelda Marcos has been found guilty of seven counts of graft by the Sandiganbayan's Fifth Division.
Imelda Marcos was acquitted Friday in three other cases, which were filed in 1991 and took almost three decades of trial by several judges and prosecutors.
In finding her guilty of graft in seven of the 10 cases filed against her, Mrs. Marcos faces imprisonment of six years and one month up to 11 years for each count, as provided under the Anti-Graft and Corrupt Practices Act.
The Sandigan also ordered the release of an arrest warrant of arrest against Marcos who did not attend the promulgation of the cases against her.
"She can elevate it to the Supreme Court if she sees grave abuse of discretion in the Sandiganbayan's decision".
Prosecutor Ryan Quilala told local media she would still be able to run in elections until she has exhausted the appeals process.
Imelda Marcos' husband was ousted by an army-backed "people power" revolt in 1986.
"I hope this ruling would serve as a crucial electoral guide to our voters this coming election", opposition Senator Risa Hontiveros said in a statement. Most have been elected to public offices in an impressive political comeback.
Imelda Marcos, 89, was the wife of late president Ferdinand Marcos, and famous for owning 1,000 pairs of shoes.
Ferdinand Marcos ruled the Philippines for two decades, placing the country under martial law in 1972, during which time thousands of opponents were jailed, killed or disappeared.
The court's decision is not final and both the prosecution and Marcos' camp can still file a motion for reconsideration.