British lead singer Chris Martin, of the band Coldplay, performs at Wembley Stadium in London, Friday, September 18, 2009. Photo by AP.
Satriani sued Coldplay in December, claiming the band copied "substantial, original portions" of his 2004 song, If I Could Fly. Coldplay won a Grammy Award earlier this year for Viva La Vida.
A federal judge in Los Angeles last week dismissed the case at the request of attorneys for both sides. No details about an agreement were included in court filings, other than each side would pay its own legal costs.
Satriani is a renowned guitarist who has been nominated for numerous Grammys during his career.
