The settlement, terms of which were not disclosed, brings to an end a dispute that started in 2011 when Apple accused Samsung of copying the iPhone's design and software features.
In May this year, a US jury awarded Apple US$539mln, leaving Samsung with an outstanding balance of US$140mln it owed Apple.
The US tech giant had sought US$1bn in damages in a re-trial of a 2012 case, and South Korea’s Samsung had argued that it should pay only US$28mln.
The jury awarded Apple the bulk of the damages with respect to design patents, for which the jury said Samsung must pay $533.3mln. The remaining US$5.3mln was awarded for utility patents.
Samsung had previously paid US$399mln to compensate Apple for infringement of some of the patents at issue in the case.
In pre-market New York trading on Thursday, Apple stock was up 0.4% at US$184.96.