England cricket bosses paid Zimbabwe £133,900 to finally cancel the Test matches which were postponed last year.
England played four one-day matches in Zimbabwe last December
The Test series was delayed after Zimbabwe's Test status was suspended, but England played four one-day internationals last December.
ECB chairman David Morgan told the Guardian: "It is a fair payment to them and one we have budgeted for."
England will not now be required to tour Zimbabwe until at least 2009, as the international calendar has changed.
The figure is in line with International Cricket Council guidelines for compensation between countries, at US$125,000 per Test.
The England and Wales Cricket Board did not, however, pay compensation for the one-day match postponed at the last minute when several leading journalists were denied visas.