Meadow Walker, 18, reached a resolution with the car manufacturing giant on October 16 but the terms of the settlement are confidential.
Both parties have requested the dismissal of the wrongful death case, according to a report by Blast.
Walker, aged 40, died after the Porsche Carrera GT he was a passenger in crashed and burst into flames in California in November 2013.
It had struck a concrete lamp post and a tree at high speed before catching fire, killing him and his friend Roger Rodas, who was driving.
Her lawyers had claimed the car had “a history of instability and control issues”, adding: “The bottom line is that the Porsche Carrera GT is a dangerous car. It doesn’t belong on the street. And we shouldn’t be without Paul Walker.”
But Porsche claimed Paul was “a knowledgeable and sophisticated user of the 2005 Carrera GT” and should not have allowed Rodas to have driven at such a high speed.
The company rejected claims their design was at fault, claiming the car “was abused and altered,” as well as “misused and improperly maintained.”
Investigators have previously confirmed there was no “mechanical failure” involved in the fatal collision, which happened mid-way through filming for Furious 7.
Meadow has kept a low-profile but has thrown her energy into the charitable organisation set up in his name, The Paul Walker Foundation.
The charity works to protect the world's oceans and wildlife and "is to serve as an enduring light of Paul's unique spirit".