Mount Allison University says the three-week faculty strike is over and students will be back to class on Monday.
Both sides met with a provincial mediator on Saturday.
According to a release from the university, officials and the Mount Allison Faculty Association decided to settle outstanding issues through binding arbitration.
The union confirmed the end of the strike on its website Sunday.
The university said it hopes to present a revised academic schedule to the university senate by the end of the week.
Full-time faculty and librarians walked off the job in a legal strike on Jan. 27, bringing classes to a halt for 2,400 students.
Mount Allison and the faculty association have been negotiating a new collective agreement since the summer. The union argued workload was a key issue in the dispute, saying the administration needed to provide greater support to the university's core mission. The association also said salaries, pensions and benefits are also areas of contention.