In June, Blauel alleged that John had broken the terms of the couple’s divorce deal by publicly discussing the pair’s marriage.
John and Blauel got married in 1984, divorcing four years later in 1988.
In the lawsuit, Blauel had asked for damages amounting to around £3m, as well as an injunction preventing any further private information being disclosed.
John and Blauel released a joint statement, saying: “The parties are happy to announce that they have resolved this case, in a way that acknowledges Renate’s need for privacy.
“For her part, Renate acknowledges that Elton has acted in a dignified and respectful way towards her in the last 30 years and has been always happy to help her.”
The statement continued: “They will not be discussing each other, or their marriage, in future and will be making no further comment about the case.”
Blauel’s lawyers had claimed that John’s memoir, entitled Me and released last year, and the musical biopic Rocketman had made “repeated and flagrant” breaches of the couple’s long-standing divorce agreement.
John’s defence team argued that the projects only discussed incidents that were already public knowledge.
Five scenes from Rocketman were described in the claim, including a scene which depicts the couple’s wedding day.
Rocketman starred Taron Egerton as the beloved musician, while Celinde Schoenmaker appeared as Blauel.