"Mr. Jardine feels very happy and feels that this is a friendly settlement that allows them to focus on the talent and future of this American iconic band," Noble said.
Love sued Jardine in 2003, claiming he fronted a group that used various versions of the Beach Boys name. The lawsuit said Love was the sole licensee to perform under the name, and that Jardine was denied use because he did not agree to abide by terms of a proposed license.
Love was seeking $2 million in court costs and $1 million he said Jardine collected from using the name.
A judge ruled in January that the case could go to trial. It was set to begin April 14.
The Beach Boys were founded in 1961 by brothers Brian, Carl and Dennis Wilson, their cousin Love and Brian Wilson's friend Jardine.
Dennis Wilson died in 1983 and Carl Wilson died in 1998.