South West Trains run services across the south and into London
Drivers working for South West Trains have suspended a four-day strike which was due to start next week.
The walk-out over pay had been expected to halt most services from the south coast to London Waterloo.
The Aslef union, which represents the drivers, reached a draft agreement with the train operator leaving drivers to vote on the deal next month.
South West Trains said that following "productive talks" it would be running a normal service next week.
In a statement, Aslef said: "The industrial action planned for next week on South West Trains has been suspended following a formula agreed between negotiators for the company and ASLEF, the train drivers' union.
"The draft agreement will be considered by the union's executive at its meeting in mid-April.
"This will be followed by a referendum of ASLEF members in SWT to judge its acceptability. At that stage the action will be re-imposed or called off."
Aslef said 73% of its SWT members voted in favour of industrial action, which had been due to start on Monday.
SWT had said its 4.5% wage offer was "very good" in the current economic climate.
It added that the offer would give a driver working in the London area a basic annual salary of £40,447 for a 37-hour week.