The settlement was announced on the third day of the divorce trial in Chicago, but details were not announced.
Griffin filed for divorce over a year ago.
Both Griffin, CEO of Citadel Investment Group, and Anne Dias had been battling in filings for the past year.
In January, Dias requested $1 million a month as part of their divorce for child-related expenses. But Griffin has argued that this request was an effort to fund her "opulent lifestyle."
Griffin's estimated net worth is around $7 billion, according to Forbes.
— CNBC's Robert Frank contributed to this report.