The settlement is understood to be in excess of £100,000, an amount to which both Clarkson and the BBC contributed.
The motormouth star hit Irishman Oisin Tymon in a “physical and verbal incident” when he was told he couldn’t have steak for dinner after a long day filming in Yorkshire.
Jeremy Clarkson told the BBC: "I would like to say sorry, once again, to Oisin Tymon for the incident and its regrettable aftermath,
"I want to reiterate that none of this was in any way his fault.
"I would also like to make it clear that the abuse he has suffered since the incident is unwarranted and I am sorry too that he has had to go through that.
"I am pleased that this matter is now resolved. Oisin was always a creatively exciting part of Top Gear and I wish him every success with his future projects."
The fracas lead to Clarkson’s Top Gear contract not being renewed by the BBC. Clarkson and his co-presenters Richard Hammond and James May have now signed a big money deal with Amazon as Chris Evans leads the star studded list of new presenters taking over hosting duties on Top Gear.