The New York Times reported on Sunday that Argento, 42, a Harvey Weinstein accuser and leading figure in the #MeToo movement, had paid actor and rock musician Jimmy Bennett US$380,000 over the alleged 2013 incident at a Los Angeles hotel.
Bennett was two months past his 17th birthday at the time of the alleged encounter, while Argento was 37. The age of consent in California is 18.
Argento became a powerful voice for the #MeToo movement after accusing Hollywood producer Weinstein of raping her when she was 21 in his hotel room in 1997 during the Cannes Film Festival.