The settlement with the Diocese of Erie was announced Tuesday by the victim’s attorney, Mitchell Garabedian.
The defrocked priest, David Poulson, was sentenced this year to 2 1/2 to 14 years in prison after pleading guilty to the sexual assault of one boy and attempted sexual assault of another.
Poulson is one of a handful of priests criminally charged as a result of a Pennsylvania grand jury investigation that detailed decades of abuse by 300 priests.
He was accused of abusing an altar boy more than 20 times in various rectories.
The diocese says it plans to comment later in the day.