The deal follows weeks of negotiations in the Qatari capital.
Three officials from the US and one from Hamas confirmed that a deal had been reached, while a senior Israeli official said details are still being ironed out.
All three US officials requested anonymity to discuss the contours of the deal before the official announcement by mediators in Doha.
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According to reports the proposed deal would involve a six-week initial ceasefire phase which would see the gradual withdrawal of Israeli forces from Gaza and the return of Palestinians to north Gaza.
The official text of the deal has not been released at the time of writing, but this is what we know so far based on reports.
First phase
Over six weeks, 33 of the nearly 100 Israeli hostages are to be reunited with their loved ones after months in captivity with no contact with the outside world, though it is unclear if all are alive.
Israel will release about 2000 Palestinian prisoners during this phase, including 250 prisoners serving life sentences, according to Al Jazeera.
Among the Palestinians being released are around 1000 who were detained after October 7.
Furthermore, Israel will reportedly:
- Withdraw its forces from Gaza’s population centres to areas no more than 700 metres inside Gaza’s border with Israel (this may exclude the Netzarim Corridor which the withdrawal from is expected instead to take place in stages)
- Allow civilians to return to their homes in the besieged north and allow a surge of aid in – up to 600 trucks per day
- Allow wounded Palestinians to leave the Gaza Strip for treatment
- Open the Rafah crossing with Egypt seven days after the start of the implementation of the first phase
- Reduce their presence in the Philadelphi Corridor, the border area between Egypt and Gaza, and then withdraw completely in later stages
Second phase
Negotiations will continue during the first stage of the ceasefire deal, with key points understood to have been agreed in principle for now to be finalised.
If the two countries agree the first phase has been completed and conditions have been met for the second, Hamas is reported to release all the remaining living captives, mostly male soldiers, in return for the freeing of more Palestinians held in the Israeli prison system.
According Al Jazeera, Israel would also initiate its “complete withdrawal” from Gaza.
Third phase
Again, the details of a third phase remain unclear and negations will continue to finalise points to implement.
According to the draft seen by Al Jazeera, the third phase will see bodies of the remaining captives handed over in return for a three to five-year reconstruction plan of the Gaza Strip to be conducted under international supervision.
It is understood, there is no agreement over the administration of Gaza beyond the ceasefire.