Israel and Hamas have reached a ceasefire and hostage release agreement to halt more than a year of fighting in the Gaza Strip, President Biden and Qatar's prime minister announced separately on Wednesday.

Israel and Hamas have agreed a Gaza ceasefire and hostage deal following meetings with Qatar's prime minister, a source briefed on the talks has told the BBC. There was no confirmation from the Israeli government or Hamas, but a Hamas official earlier told the BBC it had approved a draft from Qatari, US and Egyptian mediators.

The deal will take place in three different phases, each of which will last for six weeks, according to U.S. and Qatari officials.