The Neshaminy School Board and the Neshaminy Federation of Teachers announced the deal on Tuesday.
Union spokesman Bob Schiers says the contract will be presented to members for ratification on June 3. He declined comment on details of the pact.
Board president Ritchie Webb said in a statement that the deal resembles a December 2012 proposal with some contract language changes. Schiers said it includes some points important to members.
Teachers in the district, which has about 7,000 students, went on strike twice last year. The 633 teachers, guidance counselors, librarians and nurses have been working under the terms of an expired contract.