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Jolie filed for divorce in 2016 claiming Pitt had been abusive towards her and their children on a private jet flight from Europe.
Angelina Jolie and Brad Pitt have reached a settlement after eight years in one of the longest and most bitter divorces in Hollywood history.
In a statement, Jolie's lawyer James Simon said: "More than eight years ago, Angelina filed for divorce from Mr Pitt.
"She and the children left all of the properties they had shared with Mr Pitt, and since that time she has focused on finding peace and healing for their family.
"This is just one part of a long ongoing process that started eight years ago.
"Frankly, Angelina is exhausted, but she is relieved this one part is over."
No court documents have been filed yet, and a judge will need to sign off on the agreement.
Dubbed "Brangelina", the two Oscar winners have six children together.
After tying the knot in 2014, Jolie filed for divorce in 2016, following a private jet flight from Europe during which she said Pitt was abusive towards her and their children.
In 2019, a judge declared them divorced and single, but the settling of their assets and child custody had to be decided separately.
A private judge hired by Pitt reached a decision soon after that, which included equal custody of their children, but Jolie filed to have him removed from the case over an unreported conflict of interest.
An appeals court agreed, the judge was removed, and the couple had to start over.
The use of private judges - an increasingly common move among splitting celebrities in recent years - has meant court proceedings are largely kept under wraps.