Latest news and live updates as a Gaza ceasefire deal is reached after more than a year of war between Israel and Hamas.

Israel and Hamas agreed to a ceasefire deal to pause the devastating war in the Gaza Strip, multiple officials announced Wednesday.

The first phase, spanning a 42-day ceasefire, would see the exchange of 33 Israeli hostages in Gaza for Palestinians held in Israeli prisons, U.S. officials said.

The deal, not yet formally announced, outlines a six-week initial ceasefire phase and includes the gradual withdrawal of Israeli forces from Gaza and release of hostages held by Hamas in exchange for Palestinian detainees held by Israel.

Hamas is expected to release 33 hostages in the first phase of the ceasefire-hostage agreement being negotiated in Doha in relation to the situation in Gaza, CNN reported on

U.S., Qatari and Egyptian mediators shuttled between the Israeli and Hamas delegations in Doha on Tuesday, where officials said a deal to halt the war is near.

Israel and Hamas agreed to a ceasefire deal, mediators announced Wednesday, pausing a devastating 15-month war in the Gaza Strip and raising the possibility of winding

Israeli Prime Minister Benjamin Netanyahu's office announced that Israel's negotiating team had finalized a deal on the release of hostages held in Gaza.

The Israeli security cabinet is expected to meet this morning in the first procedural step toward a ceasefire and hostage deal in implemented. NBC News' Daniele Hamamdjian reports from Tel Aviv with all the details.

By Andrew Mills, Nidal al-Mughrabi and James Mackenzie DOHA/CAIRO/JERUSALEM (Reuters) -The Israeli cabinet will meet to give final approval to a deal with militant group Hamas for a ceasefire in Gaza and a release of hostages,