The payment includes £6 million worth of property but not the trust funds for the couple's children.
A spokesman told The Mirror: "Chris is pleased to have settled with Ingrid. That part of his life is over and he is pleased to have reached an amicable agreement."
Ingrid will keep the couple's former home in Esher, an eight-bedroom mansion in Surrey and a Cannes holiday home.
The 61-year-old Who Wants To Be A Millionaire? presenter split from Ingrid in 2006 after he admitted to a seven-year affair with teacher Fiona McKechnie.
"A man had an affair with another woman and these things are never easy," Tarrant said. "But there are no dead bodies. I'm not Jonathan King or Gary Glitter. I can't work out why this continues to be news."