At least 15 children are among the 43 people killed in the Gaza violence, as news of the ceasefire brought some relief.
Fears of another war were heightened when Israel attacked Islamic Jihad leaders in Palestine on Friday.
Palestinian targets were hit throughout the weekend, with militants firing rockets.
Gaza authorities said 43 Palestinians were killed, nearly half of them civilians, and hundreds wounded.
But Israeli and Palestinian Islamic Jihad fighters agreed to a ceasefire, hoping to prevent further tragedy.
It will take effect at 11:30 p.m. local time (8:30 p.m. GMT), a Palestinian official familiar with Islamic Jihad and ceasefire efforts said.
Israeli Prime Minister Yair Lapid’s office confirmed the Egyptian-brokered ceasefire on Sunday.
The fighting on the Gaza border marks the biggest escalation in more than a year.
Hamas, which controls the Strip, will wage an 11-day war with Israel in May 2021.
The group is reluctant to intervene in the ongoing conflict for fear that the conflict could escalate quickly.
This is probably due to the impact of oppression in poor areas.
Concerns over existing economic ties with Israel, including Israeli work permits for thousands of Gaza residents, are also believed to be a factor.
Israel said on Friday it had launched a “preemptive” operation ahead of the suspected Islamic Jihad attack in response to the arrest of senior member Bassam al-Saad.
It started with Friday’s attack, in which Taysir Jabari, a senior Islamic Jihad commander, was killed.
A prominent leader of the same group, Khaled Mansour, was killed the following day in an airstrike on a house in the Rafah refugee camp, south of Gaza.
The rocket destroyed a three-story building and a nearby house was badly damaged.
Mansour’s funeral was held in the Gaza Strip on Sunday afternoon.
The harrowing images show Palestinians mourning their dead and many Israelis fleeing to shelters as explosions rock the area and sirens wail.
In the last 15 years there have been four wars and many other conflicts between Israel and Palestine.
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Source: Metro
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