The pair released a bombshell joint statement in which they said they wanted to focus on "creating a calm and supportive environment" for their two children – Junior and Princess.
The former couple were married between 2005 and 2009 after meeting on I'm A Celebrity…Get Me Out Of Here!.
Since their split, they have been engulfed in a bitter war of words.
But Price and Andre took to social media to announce they had reached a legal agreement not badmouth each other again, in a bid to protect their families.
Their statement read: "Katie Price and Peter Andre have decided to close the door on the past and move forward into a new chapter with positivity and respect.
“We are both focused on creating a calm and supportive environment for our children.
“We have reached a mutual agreement, both legally and personally confirming that neither of us will speak negatively about the other going forward. This decision reflects a shared commitment to our family and stability.
“We want to stand united for our children. We are hoping this is a start of a positive relationship.
“We ask for understanding and support from both the media and the public as we move ahead.”
Price is currently on holiday with her fourth husband Lee Andrews, after they controversially married a month ago after meeting online.
Last summer, Andre hit out at Price after she claimed on a podcast that their daughter Princess lived with her.
Andre wrote: “For sixteen years I have stayed silent in the face of repeated lies from my ex-wife and her family, out of respect for my children and loved ones, but staying silent has been incredibly frustrating.
"That ends today."
He went on: "The latest comments about my children’s welfare and living arrangements compel me to set the record straight.
"For well-documented reasons, and for their safety, Junior and Princess came into my care in 2018 and remained with me until they reached adulthood.
"In 2019, the family courts issued a legally binding order to enforce this arrangement. I have never made this public before out of respect for my children.
“In 2011 and 2015, publicly documented court cases found my ex wife had made false claims. She was ordered to pay substantial damages and legal costs, and to apologise, to me and my management.
“The same falsehoods are being repeated today."
He concluded: "Unfortunately, there are many more lies and baseless accusations that I have yet to address. Those will be dealt with in the coming months.”
After divorcing Price in 2009, Andre on to marry Emily MacDonagh.
Before marrying Andrews, Katie was also married to Alex Reid and Kieran Hayler.
