shake on (something)
To grasp someone's hand as a sign that both parties agree to or on something, such as a deal or arrangement. I'd like my lawyers to look over the details of the contract before we shake on it. After several months of negotiations, I think we're now ready to shake on the deal.
shake (hands) on something
to clasp and shake the hand of someone as a sign of agreement about something. The two people didn't sign a contract; they just shook hands on the terms of the agreement. I think it would be better to sign an agreement than just shake on it.
shake (hands) on it/on somethingshake hands with somebody to show that you have made an agreement, a deal, etc: ‘OK, I’ll let the car go for $5 000.’ ‘Do you want to shake on it?’ ♢ Let’s shake on it.
To make some agreement binding by shaking hands: Our negotiations went well, and we soon shook on the deal. If you're satisfied with the arrangement, let's shake on it.