At a brief hearing in New York State Supreme Court, Justice Douglas McKeon said the terms of deal would remain confidential.
Mr Strauss-Kahn was not required to appear personally in New York but his accuser, Nafissatou Diallo, was present as the judge had ordered.
The agreement ends a legal battle that began when Ms Diallo, 33, told police that Mr Strauss-Kahn attacked her in his suite at the Sofitel Hotel in Manhattan on May 14, 2011.
The resolution of the civil case brings Strauss-Kahn closer to ending his legal troubles, which have persisted since his return to France after the initial incident.
He is awaiting a decision by a French court on his request to halt an inquiry to determine whether he should stand trial on pimping charges related to sex parties attended by him and by prostitutes.