Another three Egyptians were sentenced to seven years in jail each for helping the murderers.
According to the verdict, the four used a hammer to beat the Pakistani until he died.
They admitted to police that they killed the guard at a construction project, and stole 36 tonnes of steel which they sold for $18,000.
The verdict can be appealed.
Execution in Kuwait is by hanging, but has generally not been carried out since 2007, barring a brief resumption in April 2013.
Dozens of people are believed to be on death row in the Gulf emirate, mostly for murder and drugs crimes.
Kuwait has executed 71 men and three women since introducing the death penalty in mid-1960.
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