Marcelo has agreed a four-month suspended prison sentence and will pay £670,000 after reaching an agreement for tax fraud.
Last October, the Real Madrid full-back was accused of evading payment to the Spanish treasury in relation to his image rights.
However, Spanish news agency EFE reported on Tuesday that a settlement has been reached with the Provincial Prosecutor's Office in Madrid, which will see the Brazilian pay a fine of €753,624.
In the complaint, the public prosecutor said the defender, who joined Real Madrid in 2007, had used the tax structure seeking an "illegal fiscal benefit". The case dates back to 2013.
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Marcelo has reportedly negotiated a shorter than expected sentence, with his fine amounting to only 40 per cent of the amount he was accused of defrauding.
Despite accepting a four-month sentence, Marcelo will not see the inside of a prison with sentences of less than two years suspended in Spain for a first offence.
Marcelo is the latest in a line of high-profile figures in Spanish football to be punished in relation to tax affairs, with former Real Madrid team-mate Cristiano Ronaldo and Lionel Messi among those to have reached settlements with prosecutors.