Martin O'Neill wants to return to management after settling his dispute with Aston Villa following his abrupt departure from the midlands club last August.
O'Neill has been out of the game for nine months after leaving Villa five days before the start of the 2010-2011 campaign.
A League Managers' Association mediation panel failed to resolve the dispute between O'Neill and Villa at the end of 2010.
But the matter was resolved during an FA Premier League managers' arbitration tribunal in London which had lasted four days.
O'Neill said: "It has taken a long time to deal with this matter but I am pleased that all issues have now been amicably finalised.
"I am very proud to have managed Aston Villa and I wish the club all the best for the future.
"I would also like to thank the LMA and my outstanding legal team for their support and hard work in bringing my case to this very satisfactory conclusion.
"I am now looking forward to the future and getting back into football management."
The LMA, in a statement, said: "The LMA is able to confirm that Martin O'Neill and Aston Villa have finalised all issues in relation to his departure from the club in August 2010.
"The matter was placed before the FA Premier League Managers' Arbitration Tribunal, but was resolved during the course of the hearing."
O'Neill enjoyed a successful four year association with the midlands club after taking over from David O'Leary in August 2006.
He led them to three successive top six finishes in the Premier League and the 2010 Carling Cup final.
Villa issued a short statement which read: "Aston Villa and Martin O'Neill have resolved the matter that had been before the Premier League managers' arbitration tribunal.
"It was an amicable resolution."
Club owner Randy Lerner and chief executive Paul Faulkner can now concentrate on sorting out the current managerial situation at Villa.
They will know next week after the results of medical tests whether O'Neill's successor, Gerard Houllier, will be able to return after suffering heart problems last month.