The new three-year agreement gives higher salary and better healthcare benefits for the musicians who play in the musicals on Broadway.
23 performances in the historic theater district in New York were threatened by the strike, including "Hamilton", "The Lion King" and the new version of Björn Ulvaeus and Benny Andersson's musical "Chess" which premieres on November 16.
Actors and musical artists also threatened with strike earlier, but reached an agreement with the theater producers about a new agreement over the weekend.
