The figures agreed upon in the settlement are confidential.
Fiat Chrysler Automobiles released a statement to ET on Thursday confirming the news of the settlement. The company said it is "pleased that we’ve reached an amicable resolution in this matter."
"We continue to extend our deepest sympathies to the Yelchin family for their tragic loss," Fiat Chrysler Automobiles added in their statement.
The celebrated young star was killed by his own Jeep outside of his house when it unexpectedly rolled down his driveway and pinned the actor against a brick mailbox and a security fence at his home in Los Angeles.
Anton Yelchin's Parents File Wrongful Death Lawsuit Against Car Manufacturer
Yelchin was on his way to meet friends for a rehearsal the night he died. When he didn't show up, the group came to his home and found him dead in the early morning.
Yelchin's parents filed the lawsuit in August 2016, sitting the Jeep Grand Cherokee's "defective" gear shift as the cause of their son's tragic death. The incident also prompted a class-action lawsuit claiming that the faulty gear shift -- which was the subject of a recall of more than 1 million vehicles -- was responsible for more than 300 deaths.
The dealership who sold Yelchin his Grand Cherokee denied any culpability in his death, at the time.
An outpouring of sorrow and condolences came following the star's death, including many from his fellow Star Trek actors. Watch the video below for a look at some of the touching tributes.