According to paperwork obtained by ABC Los Angeles station KABC, Meadow Walker and Porsche resolved the lawsuit earlier this month and will keep the terms of the settlement confidential.
Porsche has also settled a separate lawsuit filed by Paul Walker's father, Paul Walker III, who is the acting executor of his son's estate.
Attorneys for the Walkers and Porsche did not immediately respond when asked for comment.
Paul Walker was 40 years old when the Porsche Carrera GT in which he was riding crashed into a tree near a charity event in Santa Clarita, California, on Nov. 30, 2013, and burst into flames. Both Paul Walker and the driver, Roger Rodas, were pronounced dead at the scene. Almost two years after the accident, Meadow Walker filed her lawsuit, claiming that the car's 605-horsepower engine and lack of safety features prevented Paul Walker from surviving the crash. According to the lawsuit, Paul Walker was trapped due to the seat belt design and was alive for a full minute and 20 seconds after the crash, until the car "erupted into flames" and he died.
"The bottom line is that the Porsche Carrera GT is a dangerous car. It doesn't belong on the street. And we shouldn't be without Paul Walker or his friend, Roger Rodas," Meadow Walker's lawyer Jeff Milam told ABC News at the time.
About two months after Meadow Walker filed her lawsuit, Porsche alleged that the actor knew "knowingly and voluntarily assumed all risk, perils and danger in respect to the use of the subject 2005 Carrera GT."
In Porsche's original filing, the company said that the time of the car's manufacture and sale, the 2005 Carrera GT was “comported with the state of the art” and that its abuse, alteration and misuse “caused or contributed to the incident and to Mr. Walker’s death.”