Details of the deal, which comes after prosecutors dropped related criminal charges last year, weren't immediately known Thursday and likely will be veiled by a confidentiality agreement.
That could prevent the two from speaking publicly about a May 2011 encounter that she called a brutally sudden attack and he termed a consensual "moral failing."
Lawyers for Strauss-Kahn and the housekeeper, Nafissatou Diallo, made the as-yet-unsigned agreement within recent days, with Bronx Supreme Court Justice Douglas McKeon facilitating that and a separate agreement to end another lawsuit Diallo filed against the New York Post, said the person, who spoke to AP on the condition of anonymity to discuss the private agreement.