Miami-Dade Circuit Court Judge Peter Adrien announced the basketball superstar had reached an agreement with former restaurant partners Mark Rodberg and Lauren Hollander as a trial in the case was ongoing, the South Florida Sun-Sentinel reported.
The pair had accused Wade of failing to follow through on commitments to promote the D. Wade Sports Grill restaurant chain.
"While my first instinct was to continue to fight in court, I realized a reasonable settlement would allow me to move forward with other priorities," Wade said in a statement.
Meanwhile, cases accusing him of walking away from a Miami school bearing his name and a sports memorabilia anti-trust suit were also settled, the Sun-Sentinel reported, but a $100 million defamation case brought by Wade against a business partner is still ongoing.
The newspaper said Wade is also involved in a contentious divorce from his estranged wife Siovaughn in Chicago.