Some Palestinians in Gaza and Israelis have been giving their reaction to the plan to the BBC.
Tala, an 18-year-old who has been living in a tent in Gaza since her home was destroyed in air strikes, said “every time people hear about a possible ceasefire, we hope that it will finally end”.
“But when these promises are broken, it creates more fear,” she told BBC Newsbeat.
The university student said daily life remains “very challenging”, adding: “Every day comes with a new difficulty, and we are constantly thinking about safety and basic needs.”
“What matters most is stopping the fighting, protecting civilians and setting a new chapter of re-building,” she said.
In Israel Jonny said he “prays” that the ceasefire in Gaza can work. “I don’t see an ending to this cycle, but I pray it’s the case,” he told the BBC.
Israel’s ambassador to the UN, Danny Danon, told CNN that Israel is “looking forward to implementing” the deal, but added: “We have to verify what they [Hamas] are doing, not what they are saying.”
UN Secretary General Antonio Guterres described the proposed agreement as “the only good news in recent days”.
UK Foreign Secretary Ed Miliband said the focus must be on implementing the full 20-point peace plan, including “withdrawal of the IDF from Gaza and respect for the ceasefire by all parties”.
He added that conditions “remain appalling” in Gaza and said Israel “must immediately end the unacceptable restrictions on aid”. Israel denies it is restricting the entry of aid.
The war in Gaza was triggered by the Hamas-led attack on southern Israel on 7 October 2023, in which about 1,200 people were killed and 251 others were taken hostage.
Israel responded to the attack by launching a military campaign in Gaza, during which more than 73,290 people have been killed, according to the territory’s health ministry whose figures are considered reliable by the UN.