The settlement covers damages and legal costs of the Stoke City player’s defamation action against Chris McGimpsey.
A judge was told Mr McGimpsey, a former Ulster Unionist Party representative in Belfast, will make the payment in two instalments.
He has already issued an unreserved apology for the outrageous and unfounded comments made “in the heat of the moment” during a radio programme debate.
The court heard previously that the remarks were then repeated and the focus of commentary on social media.
A statement was read out on Mr McGimpsey’s behalf at that stage, setting out how he had referred to the Creggan born winger as being a ‘super Provo’.
It stressed that he did not intend to communicate any affiliation between Mr McClean and the Provisional IRA, but accepted the remarks were false and completely inaccurate.
The case had been adjourned for discussions on the level of damages.
In court today counsel for Mr McClean announced a final outcome in the case.
Peter Girvan said: “The claim relates to publication by the defendant during the Nolan Show last November, in which he made a statement which defamed the plaintiff by affiliating the plaintiff with the Provisional IRA.”
He confirmed his client has accepted Mr McGimpsey’s apology, and the terms of an agreement reached on the outstanding issues.
Mr Girvan went on: “The defendant has agreed to pay £63,000, in respect of costs and compensation, in two instalments.”
Neither Mr McClean nor Mr McGimpsey were in court for the final resolution.
But Mr Justice Maguire acknowledged the efforts made to secure the settlement.