11:33 AM PT -- Trevor Bauer's attorneys, Shawn Holley and Jon Fetterolf, released a statement to TMZ Sports ... saying, "Trevor Bauer and Lindsey Hill have settled all outstanding litigation. Both of their respective claims have been withdrawn with prejudice, effective today."

"Mr. Bauer did not make – and never has made – any payments to Ms. Hill, including to resolve their litigation. With this matter now at rest, Mr. Bauer can focus completely on baseball."

Bauer also made a video statement on the matter ... saying he hopes it is the last time he has to defend his integrity and reputation in a public setting.

"So today I’m happy to be moving on with my life," Bauer said.

Trevor Bauer and his accuser Lindsey Hill's days of battling in court appear over ... both the Cy Young winner and Hill have decided to settle their lawsuits, TMZ Sports has learned.

Hill is NOT paying Bauer and Bauer is NOT paying her, either. But, Lindsey is receiving a large sum of money from her own insurance company, according to her high-powered attorney Bryan Freedman.

"In April 2022, Trevor Bauer sued Lindsey Hill for defamation. In what turned out to be an outstanding resolution for Lindsey, neither Lindsey nor anyone on her behalf paid anything to Bauer. Not a single dollar," Freedman told us.

"Even better, Lindsey received $300,000 from her insurance company. Based on that payment, Lindsey agreed to settle the lawsuit. Now that the lawsuit is over, Lindsey looks forward to helping others."

Of course, Bauer filed the defamation lawsuit against Hill in April 2022 ... claiming she "fabricated allegations of sexual assault" in a plot designed to “destroy Mr. Bauer’s reputation and baseball career.”

A few months later, Hill filed a countersuit for battery against Bauer ... claiming he got physical with her on two occasions in April and May.

After more than a year of battling in court, the parties have decided to settle and move on.

Trevor is currently pitching for the Yokohama DeNA BayStars in Japan. Despite never having been charged with a crime in relation to Hill's allegations, Major League Baseball suspended Bauer for 324 games. The suspension was subsequently reduced to 194 games.

Technically, Bauer is now eligible to sign with an MLB team, though it remains to be seen if anyone's interested.