The deal was reached late Friday afternoon after two weeks of steady talks with CUPE Locals 82 and 543.
Mayor Eddie Francis says the settlement was unanimously ratified by those city councillors present.
Francis says he won't be releasing any details about the agreement.
The ratification vote by union members will take place Monday night.
Back in 2009, the city's inside and outside workers staged at bitter 15-week strike. (CKLW)