The divorce won't affect the advisory roles Richard and Oracene Williams play in their daughters' tennis careers, said Raymone Bain, a publicist for Oracene and Serena Williams.
The Williamses married in 1980 and separated about 18 months ago, Bain said.
"I was very honest with our children that a reconciliation would not happen," Oracene Williams said in a statement. "They've accepted our divorce and love us, as we both love them. Richard and I will continue to work together for the good of our girls, and I truly wish him well."
Richard Williams declined to comment.
The settlement was a no-fault divorce, Bain said, but financial terms were kept private. The case was filed in state circuit court.
The sisters and their parents will continue to live in Palm Beach Gardens, Bain said.
Richard Williams began grooming his daughters as preschoolers to become tennis stars and is still their coach. Mrs Williams, who plans to revert to her maiden name Price, also has been influential in her daughters' careers.
Serena and Venus have won four Grand Slam titles apiece. Serena has won the past three majors and is ranked No 1 in the world. - Sapa-AP