Don Imus has reached a contract settlement with CBS that will pay the disowned shock jock a reported $20 million.

As reported exclusively by The Post last month, Imus had $40 million left on his contract when he was booted by CBS after making racist comments about the Rutgers University Women’s basketball and had been seeking as much as $120 million in damages.

Imus, who had the morning slot on CBS’ WFAN, has been reaching out to reaching out to rival radio station owners about making a comeback.

The prospect of his return got a big boost last month when Al Sharpton, who campaigned against Imus after his racist comments, said he wouldn’t object to his return to the airwaves.