Justice Sunita Gupta allowed Sharma's plea seeking parole for appearing in the examination and said he should not leave the capital during his parole period effective from the date of his release.
"The petitioner (Sharma) is granted parole for a period of 15 days on the condition that he shall take his second year examination for the course in question," the court said in its order released Tuesday.
The court had Monday reserved its order on the plea.
Sharma's counsel told the court the examination will begin June 19.
Sharma, 36, shot dead the 34-year-old ramp model working as a celebrity waitress at the Tamarind Court restaurant of socialite Bina Ramani in south Delhi's Mehrauli area April 29, 1999, after she refused to serve him a drink.
Sharma was sentenced to life imprisonment by the high court in December 2006. The life term was upheld by the Supreme Court.
Delhi Police had opposed Sharma's parole plea saying his conduct was not satisfactory when he was granted parole in 2009.
