Once one of Hollywood’s most powerful figures, Weinstein could face up to 29 years in prison. His lawyers have appealed for a much shorter term.
Weinstein appeared in court in a wheelchair.
The 67-year-old has recently been moved to Rikers Island jail after being hospitalised when his trial ended.
He had stent implant surgery to remove a blockage after complaining of chest pains, according to a spokesman.
Weinstein’s lawyers have asked Judge James Burke to consider his poor health, age and young children while sentencing him.
They asked for the shortest possible punishment of five years for their client, citing his “accomplishments” and “charitable endeavours” over the years.
Prosecutors have asked for a prison sentence which reflects his “lifetime of abuse towards others” and “lack of remorse” for his actions.
Dozens of women have come forward allegations of sexual misconduct, including rape, against Weinstein since October 2017.
Weinstein consistently denied wrongdoing and his lawyers have said they will appeal against his convictions.
Both he and the two women he was found guilty of assaulting could have the chance to speak at Wednesday’s hearing, AP reports.
What was he found guilty of?
Weinstein was convicted for two offences last month after a weeks-long trial in Manhattan.
He was found guilty of a first-degree criminal sexual act charge for forcing oral sex on former production assistant Miriam Haley, also known as Mimi Haleyi, in 2006.
He was also convicted of the third-degree rape of Jessica Mann, a former aspiring actress, in 2013. The jury acquitted him of a more serious first-degree rape charge relating to Ms Mann.
Jurors also cleared him of the two other counts he faced, for predatory sexual assault, which would have factored in the testimony of a third woman: actress Annabella Sciorra.
Her allegation of rape, which dated back to the 1990s, was too old to be charged independently under New York law. If Weinstein had been found guilty of the more serious predatory assault charges, he could have faced a life sentence.
Wednesday’s sentencing comes just days after a mound of court evidence was unsealed.
US media has carried reports of the documents, which are said to include tense exchanges with his now-estranged brother and former business partner.
Details also emerged of the “red-flag list” of people he had sent to private investigators and his apparent attempts to get help from influential figures, like Jeff Bezos and Michael Bloomberg, as allegations against him mounted.
What about other his accusers?
Three additional women, outside of the New York charges, testified at Weinstein’s trial to help prosecutors establish an alleged pattern of behaviour.
The former movie executive still faces further criminal charges in Los Angeles over the alleged assault of two women in 2013. Investigators there also have other cases under review.
Dozens have women have accused Weinstein of sexual misconduct stretching back decades. The allegations helped the #MeToo movement go global, where women shared their own experiences of abuse and misconduct.
The movie executive was once a titan of Hollywood, enjoying phenomenal success with Oscar winners such Pulp Fiction, Good Will Hunting and The King’s Speech.