The screen stars have been locked in vicious on/off custody proceedings over their 10-year-old daughter IRELAND since January last year (04).
Baldwin dragged his ex back into court last month (NOV05) after claiming she had violated a court-imposed custody order this summer (05).
The actor also accused Basinger of turning his daughter into a spy, claiming she phoned her mother too frequently when staying with her father - to "report" on his actions.
But a media-free hearing at the start of the week (begs12DEC05) has reportedly closed the case, although details of the settlement have yet to be revealed.
Basinger's lawyer NEAL HERSH said, "Kim is respectful of what the judge did. We're hopeful this will be the end of it."
An attorney for Baldwin, who did not attend the court meeting, defended her absent client's rigourous pursuit of fair custody, saying, "(Baldwin) has a right to parent his daughter. When he comes to court, it's because he feels it's an important issue that needs attention."
The actor has allegedly spent over $1 million (GBP555,000) fighting the case.