He claimed that he had defamed them and said the massacre never took place, according to court filings on Tuesday. Families quickly turned down the offer.
In November Jones was found liable by a Connecticut judge. A trial is scheduled to determine the amount Jones should pay his families.
Jones' hoax conspiracy promoted by Jones has led to harassment and threats of death from Jones' supporters, according to the plaintiffs.
According to court filings, Jones apologized for any distress he caused by his comments.
Jones resisted a court order to appear at a deposition in Austin, Texas last week to give testimony before the trial. Jones claimed he was ill. The plaintiffs requested a hearing to punish Jones for not cooperating.
The settlement offer was rejected by the lawyers for the families within hours. They claimed that it was a transparent and desperate attempt of Alex Jones to avoid a public reckoning under penalty of law with his profit-driven, deceitful campaign against plaintiffs and the memories of Sandy Hook victims.
In the Newtown shooting of 2012, twenty first-graders and six teachers were killed. Eight families of the victims sued Jones, Infowars, and other Connecticut residents over the hoax conspiracy. Jones later stated that he believed the shooting occurred.
Jones was also found responsible for damages in similar Texas lawsuits brought by Sandy Hook family members. He will be facing trial in the coming months.
