Los Angeles County District Attorney's spokeswoman Jane Robison says Jonathan Ajar entered the no contest plea Friday and will be sentenced on April 15.
Ajar also pleaded no contest to being a felon in possession of a firearm in possession of cocaine with the intent to sell.
The 27-year-old remains jailed and could be sentenced to up to three years in state prison.
He has been linked to a group of six others charged with breaking into the homes of stars such as Bloom, Paris Hilton and Lindsay Lohan. Ajar was not charged with any of the burglaries, only receiving the watch that belonged to Bloom.
