Court records show a judge approved terms of the breakup on Tuesday in Los Angeles. The agreement calls for each performer to keep the rights to their song catalogues, awards and guitars.
Neither side is entitled to spousal support.
Lavigne, a punk-pop singer who burst to fame with her 2002 album "Let's Go," filed for divorce in October 2009. She cited irreconcilable differences for her split from Whibley, a guitarist and vocalist with the band Sum 41.
The former couple married in July 2006 and have no children together.
The court judgment was first reported by celebrity website TMZ.
