The incident occurred at Edison Middle School in the Florence-Firestone neighborhood of South L.A. when the victim was 13 years old.
Attorneys for the young woman, who is now 20, called it the largest payout to a single sexual abuse victim made by LAUSD, the second-largest school district in the U.S.
District lawyers say they hope to make payment within 30 days.
The case prompted state lawmakers to pass new measures involving minors and adults in positions of authority.