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The innovator of the Revenue settlement during the rule of Akbar was Raja Todarmal. Raja Todarmal was a trusted advisor and a close associate of Emperor Akbar. He was appointed as the Diwan or the chief revenue minister of the Mughal Empire. Raja Todarmal introduced a systematic and scientific method of revenue collection known as the "Dahsala" system. This system involved the accurate measurement of land and the assessment of its productivity. Based on this assessment, a fixed percentage of the agricultural produce was collected as revenue. This revenue settlement was a major reform and helped in streamlining the revenue administration of the Mughal Empire. It also ensured a regular flow of revenue to the imperial treasury. Therefore, option 3 - Raja Todarmal is the correct answer.