The parties must also agree that dozens of women and children held hostage by terror-labelled Hamas should be released in exchange for a pause in the fighting in Gaza.
In the agreement, which according to the Washington Post is detailed, the parties will freeze their combat operations for at least five days while initially releasing 50 or more of the hostages in small groups every 24 hours.
It is also intended that the ceasefire will allow for a significant increase in the amount of humanitarian aid, including fuel, allowed into Gaza from Egypt.
According to the newspaper, the agreement must have been negotiated during several weeks of talks in Doha, Qatar.