The five were jailed in September for raping a Finnish woman during a World League tournament in Tampere.
The appeals court in the south-western city of Turku reduced the five-year sentences handed down to four of them.
The longest of the revised prison terms is that of Osmany Uriarte Mestre - four years. Luis Sosa Sierra was acquitted.
Ricardo Calvo Manzano will now serve three-and-a-half years, team captain Rolando Cepeda Abreu two-and-a-half years and Alfonso Gavilan one year and three months.
They were detained in the southern Finnish city on 2 July after a woman said she had been raped at a hotel. The men denied the accusation.
The team had been taking part in a tournament ahead of the Rio Olympics when the rape took place at their hotel.
Eight men were originally held. Two were released soon afterwards.
In September the Tampere court heard that two of the players had met the woman in a nightclub in the hotel basement. She later went to the room of Uriarte Mestre and consented to sex.
However, Uriarte Mestre was then said to have texted the other men without the woman's knowledge. They entered the room and subjected her to a lengthy ordeal and held her by the hair to prevent her leaving.
When she was eventually allowed to leave, she complained to the hotel receptionist who called police.
The Cuban players were found guilty of aggravated rape and ordered to pay â‚¬24,000 (Â£21,076; $27,383) in compensation to the victim.
As the allegations emerged, two of the team coaches were sacked.
Despite its depleted squad, Cuba fielded a team in Rio and lost all five of its matches.

The 11-10 favourite beat Le Mercurey by three and a quarter lengths, with Bristol De Mai disappointing in third.
Tizzard, who also trains Thistlecrack and Cue Card, has three of the first four in the Gold Cup betting.
Ballyandy landed the Betfair Hurdle and Altior also won to cement his place as favourite for Cheltenham's Arkle Chase.
Aidan Coleman was a late call-up for Native River after regular jockey Richard Johnson pulled out because of illness.
But it was business as usual for the Hennessy Gold Cup and Welsh National winner, who is now 4-1 (from 9-2) for the Gold Cup behind 7-4 favourite Thistlecrack, with Cue Card and Djakadam at about 7-1
Coleman said of Native River: "He's just the perfect racehorse and (it was) very nice to have a sit on him and I wish them all the best for the future."
Paul Nicholls said his runner-up Le Mercurey had run well to get close to a horse he considers will win the Gold Cup on 17 March.
The champion trainer believes Le Mercurey will be a Grand National contender in the future, but will this year aim him at the Betway Bowl at Aintree.
Last year's Cheltenham Champion Bumper victor Ballyandy, trained by Nigel Twiston-Davies, won for the first time over hurdles as he beat Nicholls' Movewiththetimes.
Nicky Henderson's Altior coasted home by 13 lengths from Fox Norton in the Betfair Exchange Chase, registered as the Game Spirit Chase.
BBC racing correspondent Cornelius Lysaght
One of those days where it's hard to come up with a lead story but Altior's success in the old Game Spirit Chase probably shaded it.
Last season's Supreme Novices' Hurdle winner looks even more supreme this year, and this was the smoothest of performances, all the more meritorious because it came on unfavourably soft going.
He's rightly a hotter and hotter favourite for the Arkle (his pretty much certain target said Nicky Henderson), and he'll be a Festival banker for many. Native River's style is all about stamina and toughing it out, and he'll set a big test for all-comers in the Gold Cup.
A Finnish court has cut the jail terms of four members of Cuba's national volleyball team found guilty of rape, and released a fifth.
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Native River enhanced his Cheltenham Gold Cup credentials with a comfortable win for trainer Colin Tizzard in the Denman Chase at Newbury.