The Finance Department says details of the tentative deal won't be released until the union holds a ratification vote.
The department says the vote is expected to be held early in the new school year.
Finance Minister Charlene Johnson says she believes the new deal is a fair one.
Conciliated talks broke off with the Newfoundland and Labrador Teachers' Association in May.
At the time the union said the main sticking points in the dispute were family leave and the province wanting control of costs related to substitute teachers.