Grande will pay Mr. Gomez $1.25m (£980,000) once under their deal.
Grande filed for divorce six months ago, citing irreconcilable differences.
The couple started dating in January 2020 before the COVID-19 outbreak and married in May 2021 in a "tiny and intimate" ceremony at her Montecito, California, home.
The settlement gives Mr. Gomez half of the earnings from the sale of their Los Angeles property in addition to the one-time payment.
Grande will pay up to $25,000 in lawyers' fees and no ongoing alimony.