The settlement of the 7-year-old case was announced by lawyers from the Center for Constitutional Rights, who represented the group, the Vulcan Society. They say the figure includes more than $6 million to cover lost medical payments.
The city says the figure includes back pay, fringe benefits and interest to the test takers. It wasn't immediately clear how many people would be affected by the settlement.
Among other things, the Vulcan Society's lawyers said, the FDNY will create an executive position for diversity.
The settlement pre-empts a trial that had been scheduled to start this month.
The FDNY, mayor's office and city Law Department didn't immediately respond to requests for comment.
In May 2013, an appeals court ruled that the FDNY must undergo court supervision for five years to ensure it doesn't discriminate against blacks and Latinos in its hiring practices.
In the fall of 2011, federal Judge Nicholas Garaufis appointed an independent monitor to oversee the recruitment, testing and hiring of new firefighters for at least 10 years.
The FDNY launched a recruitment campaign in 2012 aimed at attracting more female and minority applicants.
In June 2013, five female Emergency Medical Service officers announced a $1 million settlement of a 7-year-old gender discrimination lawsuit against New York City, breaking what their attorney called the department's "female firewall." EMS is part of the Fire Department.