Valerio Fioravanti and Francesca Mambro received multiple life sentences in 1988 that were confirmed by Italy's highest court in 1995. Despite the heavy sentences, the couple, who married in prison, have been free for most of the last decade thanks to Italy's generous parole system.
They have expressed regret for their involvement in other terrorist acts but have always denied any involvement in the Bologna attack during their time in far-right group Armed Revolutionary Nuclei (Nuclei Armati Rivoluzionari).
The judge who ruled the couple have to pay damages called the Bologna bombing "an act whose gravity is without precedent in Italian history."
Paolo Bolognesi of the victims group Vittime 2 Agosto added: "It is wonderful news. It means the massacre will remain a permanent and indelible stain on them for ever."
Lawyers for the couple said they would be appealing the damages award.