Kim Kardashian and Ye have reached a settlement in their divorce, according to court documents filed in Los Angeles.
The former couple will have joint custody of their four children, who are aged between three and nine years old.
Ye, formerly known as Kanye West, will pay Kardashian $200,000 (£166,000) per month in child support – and they will equally split the cost of their children’s private security, private schooling and university.
Neither will pay the other spousal support, and they will each pay their own debts.
The court documents filed on Tuesday were asking for a judge’s approval of the terms, which have been agreed by the former couple.
Ye and Kardashian had a prenuptial agreement and had kept their property largely separate.
It comes eight years after they married in the Italian city of Florence in 2014, and almost a year after Kardashian first filed for divorce.
In March this year, a judge declared them legally single at her request.
They appeared to be heading for a cordial split – but Ye has lashed out on social media against reality TV star Kardashian, her family, and then-boyfriend Pete Davidson.
He complained he was not being allowed to make important parenting decisions and was being excluded from his children’s milestones, such as birthday parties.
Kardashian called his attacks “hurtful”, accusing her former husband of making co-parenting “impossible every step of the way”.
Ye, a 45-year-old rapper who has fired two lawyers since the divorce filing, had wanted the right to question any new husband of Kardashian’s under oath, which a judge rejected.
News of the settlement comes with Ye’s reputation having been battered by his offensive and antisemitic remarks, which prompted several companies to cut ties with him.