Tyga and Blac Chyna Finally Settle Bitter Custody Dispute Over Son King Cairo

It's a Christmas miracle come early -- as Angela White, formerly Blac Chyna, and Tyga have finally settled their years-long custody dispute over their son, King Cairo -- and Tyga won't have to pay child support.

Sources with direct knowledge of the settlement tell us both parents have come to a surprisingly amicable arrangement ... they'll have joint legal and physical custody, and will both have the right to make decisions on the 11-year-old's health, education and general welfare.

When it comes to parenting, we're told Chyna will get King every weekend from Friday to Monday and Tyga will have him the rest of the time.

What's more ... the court ordered neither parent can talk poorly about the other around King, and they'll enroll in a program to monitor communication back and forth about co-parenting.

TMZ broke the story ... in custody docs, Chyna claimed she had resorted to selling her personal belongings -- including clothes, purses and shoes -- in order to stay afloat, making around $178K in the process. However, she claimed the financial help from selling the goods would only be temporary, and she needed money from Tyga.

Turns out, Tyga won't have to pay up ... and the new arrangement should hopefully make for a better environment for their kiddo, too.

Win, win?