The first phase of a truce is to begin in the Gaza strip at 0300GMT on Thursday. The agreement was announced on Tuesday and follows months of talks between Israel and Palestinian armed groups. the two have announced on a number of conditions.
The talks were mediated by Egypt, in an attempt to end the Israeli blockade of the Gaza strip, which has been in place for a year.
Israel has agreed to give the truce a chance, though it has said that it will be keeping ground troops at the ready in case Hamas fails to keep to the agreement.
Tuesday's announcement came after the deaths of six Palestinians in Israeli air raids on Gaza. Five people were killed and several wounded in a strike near Qarara village, near the southern city of Khan Yunis, according to Gaza emergency service personnel.
The proposed truce would involve Israel lifting the blockade which it has imposed on the strip, as well as the opening of borders, allowing for the free movement of essential goods from Israel and for freedom of movement between the Gaza strip and Egypt.
It also stipulates that there has to be progress on the release of Gilad Shalit, the Israeli soldier held captive since 2006. The Franco-Israeli soldier was captured by Palestinian militants in a cross-border raid, and his release was an essential point for Israel.
Israel has also insisted that the truce must include a halt to the smuggling of goods from Egypt.
RFI’s Elias Zaneneri in Jerusalem believes that this is a delicate truce, which will be put to the test in the coming weeks.
“For the time being, there is a big difference between what Hamas is saying and what Israel is saying" he says.
"There is some kind of agreement that the truce will start on Thursday morning at 6am local time …Only after 3, 4, 5 weeks and depending on what happens… with the Israeli soldier captured by Hamas, will the second phase be implemented.”
In related news, a delegation of Palestinian president Mahmoud Abbas' Fatah party went to Gaza for the first time since Hamas took over the territory last June. It is not clear whether they were meeting Hamas officials.