They both had levelled "money-centric" allegations against each other.
Confirming the good news via video message, Miandad admitted that his comments came in the heat of the moment and, therefore, he is now taking his words back.
"Afridi is like a younger brother. And I have already stated that everything is over from my side. A lot of things happen in the heat of the moment. And I know that Afridi is still unhappy with a few things I said but I take all my words back," Javed Miandad was quoted saying by the Express Tribune.
The former T20 skipper, while accepting the apology, said that as the legendary batsman has taken back his words, he was ready to forget everything.
It may be recalled that a verbal fight between the two started when Miandad had claimed that Shahid Afridi was asking for a farewell match from the Pakistan Cricket Board (PCB) only for money.
Reacting to this, legendary batsman's claims, Afridi had said that money has always been an issue for the former, which separated him from World Cup winning captain Imran Khan.
(ALSO READ: Dawood Ibrahim forces Shahid Afridi to make peace with Javed Miandad?)