Allen Harris suffered cardiac arrest during a summer football workout in 2018.
The family filed a wrongful death lawsuit a year later which found the Federal Way High School coaches had not been properly trained to respond to a sudden cardiac arrest.
The family's attorney says the settlement was reached in November.
FOX 13 News spoke with Harris' friends after the student's death.
They said he worked hard on the football field and also on the dance floor. Allen had a passion for Samoan dancing, spending countless hours practicing with the Federal Way High School Pacific Islanders Club.
"There is a lot of things to say about Allen Harris. He was the best dancer out there, he was like smiling throughout the dance," fellow club member Alofaga Afalava said.