UAW President Ron Gettelfinger said in a statement that the tentative agreement would protect wages, pensions and health care for UAW-represented Chrysler workers and retirees.
The question of whether Chrysler could emerge from the UAW talks with a deal was seen as crucial to the success of the unprecedented bid by its new private equity owner, Cerberus Capital Management, to turn around the automaker at a time of slack sales and intense competition.
The deal could also have immediate implications for Ford Motor, which faces its own round of contract talks with the UAW once the union has finished with Chrysler.
On a combined basis, the three Detroit-based automakers lost some $15 billion last year and have argued they need deep concessions from the UAW in order to return to profitability
and to keep significant production in the United States.
Thousands of Chrysler autoworkers started to walk off the job earlier Wednesday after the automaker and the United Auto Workers union failed to settle on a tentative contract agreement before a union-imposed deadline.
Though brief, it was the first UAW strike against Chrysler since 1997, when one plant was shut down for a month, and the first strike against Chrysler during contract talks since 1985.
The UAW, which must reach new four-year agreements with all three Detroit automakers, struck General Motors for two days before agreeing on a tentative pact with the automaker on Set. 26. The union hasn't yet settled with Ford Motor.
Chrysler has 24 U.S. manufacturing facilities, including 10 assembly plants, but not all were affected by the strike. The automaker had already planned to idle five assembly plants and some factories that make parts for short stretches during the next two weeks in an effort to adjust its inventory to a slowing U.S. automotive market.