Silvio Berlusconi, Italy's former prime minister, has agreed to pay his second wife Veronica Lario $4m per month in alimony, according to an Italian newspaper.
The Corriere della Sera said on Friday that the paperwork was filed on Tuesday, at Milan's tribunal.
The legal settlement opens the way for their divorce, media reports said.
Lario announced she was divorcing the billionaire media mogul in 2009, citing his presence at the 18th birthday party of a Naples girl and his fondness for younger women.
She described Berlusconi as "a dragon to whom young virgins offer themselves," accused him of being "unwell" and said she could not stay with a man "who frequents minors".
Under Italian law, married couples have to wait at least three years to divorce once a legal separation settlement has been established.
Lario, 56, had three children with Italy's former prime minister.
While the former actress - who first met Berlusconi in a theatre dressing room in 1980 - will net 100,000 euros a day in alimony, the court ruled that the estate should go to the media magnate.
He has two children from his first marriage.
The 76-year-old is currently dating a television starlet nearly 50 years younger than him.