Gianni Infantino was elected president of Fifa in 2015 after the Fifa scandal.
The US Department of Justice announced that Fifa would receive $201m (146m), in forfeited funds, seized during a corruption investigation.
Since 2015, when the Department of Justice launched its corruption investigation, more than 50 criminally charged defendants have been brought to justice
27 people and 4 corporate entities pleaded guilty. Two people were convicted in court.
Repayment will start with an initial $32.3m (23.5m)
Fifa Foundation, an independent foundation that took money from bank accounts of ex-officials who were being investigated for corruption, will use the money to finance football-related projects. Fifa claims this can have a positive impact on the lives of many people in the football world, particularly through youth and community programs.
The scandal of 2015, which was the most serious in the history of the sport, involved collusion between officials representing the governing bodies as well as sports marketing executives. It also included fraud, bribery and money laundering offenses.
It ended Sepp Blatter's 17 year reign as president of the governing body and led to Gianni Infantino being elected his successor in February 2016.
Many of the defendants were required to forfeit any assets they had obtained from criminal activity.
The United States has a law that gives the Department of Justice the power to distribute proceeds of forfeited assets among victims of crime, including those who were defrauded by football organizations.
Infantino stated, "I am thrilled to see that money illegally siphoned from football is now being used for its proper purposes,"
"I would like to express my sincere gratitude to the US Justice authorities, for their prompt and efficient approach to bringing these matters to a close, and for their trust.
"The truth is, that we were able to transform Fifa from a toxic organization in 2015 to a respected and trusted global sports governing body, thanks to their intervention."
Jacquelyn Kasulis, the acting US attorney in the Eastern District, New York said that "Today's announcement confirms the theft of money by corrupt soccer officials and sport marketing executives through fraud, greed, and will be returned to the source and used for the benefit of the sport."
"From the beginning, the investigation and prosecution were focused on bringing wrongdoers and restoring ill-gotten profits to those who work in the interest of the beautiful game.
"Our office will work with our law enforcement partners to always compensate victims of crime."
Infantino said that Fifa's cooperation with the Department of Justice was an indication of the "significant advances" made by the body "in terms of transparency and good governance".
Infantino said, "Today they know that the Fifa Foundation money is in good hands"
"In behalf of all future beneficiaries, I thank the US authorities to have placed trust in Fifa. We will ensure that these funds are properly used and provide tangible benefits for those who truly need them."
Analysis: "Fifa will see this as a line through the sand"
Simon Stone, BBC Sport
The Department of Justice authorized this huge payment to Fifa because it recognized that the world's governing body was the one who wronged the game in the scandal.
While not all agree with its decisions, such as the Premier League's concern over Fifa’s decision to extend South America’s international break, and the suspicion that Infantino was involved in European Super League negotiations, which he has since distanced from, Fifa is now a completely different organisation than the corrupt and discredit Sepp Blatter regime.
Fifa will see this judgment as a line in sand, and its Foundation will be responsible to distribute the money. This should benefit the game around the world.
