Accordingly, India will host South Africa for two Tests in November this year and the latter will return for a Limited Overs series next year on their way to Australia.
"It took only three minutes for me to sort out the matter with Jagmohan Dalmiya, the Board of Control for Cricket in India (BCCI) chief," United Cricket Board of South Africa (UCBSA) president Ray Mali said in Durban.
The two Tests besides a warm-up match will be played between November 4 and 30, Mali said.
"We value the friendship between India and South Africa and so we decided to split the two series."
Mali and Dalmiya were in Dubai for an International Cricket Council (ICC) meeting to discuss the Zimbabwe crisis arising from a players' strike.
"The whole issue was settled amicably and the reports that we were unhappy were exaggerated," the UCBSA chief added.
"It is India who proposed that South Africa should return to international cricket and we remember that," he added.