According to UsMagazine.com, the divorce was declared final last Wednesday (March 4), and the two stars will share custody of their son.
Heche, who announced last December that she is expecting a child with her new boyfriend, actor James Tupper, has a 7-year-old son, Homer, with Laffoon.
The actress will pay $3700 per month to her ex-husband, as well as a lump sum payment of $515 000 US.
Heche and Laffoon were married in 2001. Divorce proceedings were originally filed in February 2008.