Under a plea deal, Bannon, 71, was given a three-year sentence of conditional discharge, meaning he will not be imprisoned.
Bannon and three others were charged by the US Department of Justice with scamming hundreds of thousands of donors in relation to the $25 million (£19 million) “We Build the Wall” campaign.
On Tuesday, Bannon’s attorney stated that he did not keep any of the money for himself.
Bannon and the three others started the “We Build the Wall” initiative, which aims to use donations to construct parts of the border wall on private property. Trump made this promise during the 2016 election.
The four were accused of misleading donors who had contributed millions of dollars, leading to charges of conspiracy and money laundering.