The two are trying to find common ground after Mr Ryan said he could not endorse the presumptive Republican nominee.
He has said the businessman lacked conservative principles.
"We had a great conversation this morning," the two wrote in a joint statement.
"While we were honest about our few differences, we recognise that there are also many important areas of common ground."
They said they would be having "additional discussions" but think they can unify the party and win the election.
At a press conference following the meeting, Mr Ryan said he was "very encouraged" by what he heard from Mr Trump.
Mr Trump arrived for the meeting at the Republican National Committee (RNC) headquarters in Washington amid protesters brandishing placards.
Analysis - Anthony Zurcher, BBC News, Washington
Paul Ryan sounds like a man trying to make peace with his shotgun marriage. Sure, the circumstances are unfortunate, but maybe life together won't be that bad.
The House speaker, who once condemned Trump's proposed Muslim ban as "not conservatism", now says there are "core principles" of conservatism that tie them together. They both love the Constitution, it seems, and they're all about the separation of powers between the branches of government.
Beyond that? Who knows. Mr Ryan declined to go into details during his Thursday press conference, instead talking about the processes being started, seeds being planted and differences being bridged.
It was not the endorsement, full-throated or otherwise, that Mr Trump desires, but it was a first step toward the reconciliation of a party that desperately wants to win back the White House in November.
If Mr Ryan eventually makes peace with what he called a "whole new wing" of the Republican Party that Mr Trump represents, this desire for power - for a prize that has been denied Republicans for two straight presidential elections - will be the driving force behind it.
Afterwards, RNC chairman Reince Priebus, who mediated the talks in his office, said it was a success.
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