Michael Adebolajo, 29, and Michael Adebowale, 22, struck Fusilier Rigby with a car before hacking him to death.
Adebolajo had claimed he was a "soldier of Allah" and the killing was an act of war.
The men were found not guilty of attempting to murder a police officer at the scene.
The jury of eight women and four men took approximately 90 minutes to reach its verdict.
Relatives of Fusilier Rigby broke down in tears as the verdicts were given.
His wife said the family was satisfied that justice had been done, adding: "This has been the toughest time of our lives. No one should have to go through what we have been through as a family."
Rebecca Rigby said: "These people have taken away my baby's dad but Lee's memory lives on through our son and we will never forget him.
"I now want to build a future for Jack and make him proud of his dad like we all are."
Mr Justice Sweeney ordered that the decisions be heard in silence. He said he will pass sentence after a key appeal court ruling on the use of whole life terms in January.
Adebolajo and Adebowale drove a car into Fusilier Rigby at 30-40mph, before dragging him into the road and attacking him with knives and attempting to decapitate him with a meat cleaver.
The jury heard the men chose their victim because he was "the soldier that was spotted first".
In a police interview Adebolajo said he and Adebowale decided to lie in wait near the barracks and targeted Fusilier Rigby because he was wearing a Help for Heroes hooded top and carrying a camouflage rucksack.
The attack occurred on a busy street, witnessed by shocked onlookers. A number of women - such as Amanda Donnelly-Martin - approached Fusilier Rigby, who was lying in the road, and attempted to comfort him, but he was already dead.
Adebolajo handed Ms Donnelly-Martin a handwritten letter containing a speech about fighting "Allah's enemies" and bringing "carnage" to London's streets.
Assistant Commissioner Cressida Dick, the head of the Met's specialist operations, said justice had been done.
"This horrific attack, which took place in broad daylight on the streets of London, shocked the country and was intended to divide communities. It had largely the opposite effect and has, in fact, brought people together," she said.
Source: BBC News
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