The 38-year-old comedian sued The Sun over a story which alleged that he had cheated on his girlfriend, Jemima Khan, back in November 2013.
Brand won the damages just last month, but London's High Court has now formally accepted the ruling.
Katy Perry's ex-husband has previously announced that he will be donating the money—which is an unspecified, but likely large amount—to the Hillsborough Justice Campaign.
The campaign raises funds in honor of the 96 people who lost their lives during the 1989 FA Cup semifinal played at Hillsborough.
Shortly after the tragic incident, The Sun ran a story titled "The Truth," which placed the blame for the deaths on the fans' behavior.
Meanwhile, Rowling has also come away the winner after suing The Daily Mail for a story they wrote claiming that she lied about her upbringing in an effort to win people over with her "sob story."
The paper admitted liability in January of this year and agreed to publish an apology in addition to awarding damages to the Harry Potter author.
No further details of the settlement have been made public.