Israel has accepted an Egyptian cease-fire proposal due to go into effect at midnight, diplomatic officials said Sunday evening.
According to the officials, in accordance with Israel's policy that it will not negotiate under fire, Israel's negotiating team will return to Cairo on Monday if the cease-fire holds.
Earlier reports by Egyptian state television quoted Palestinian sources stating that Palestinian factions had agreed to a 72-hour Gaza cease-fire, quoting a Palestinian source.
There has been no confirmation from Hamas.
The reports announcement came after Hamas fired at least eight rockets at Israel since the Egyptian foreign ministry announced that both sides had agreed to a cease-fire.
Two of those rockets were intercepted by the Iron Dome while two more landed in open territories. Four more landed within the Gaza Strip.
Earlier on Sunday Prime Minister Netanyahu stated that though patience was needed, the operation in Gaza "operation continues," and that "Israel will not negotiate under fire."
Hamas has demanded an end to Israeli and Egyptian blockades of the coastal territory and the opening of a Gaza seaport - a project Israel says should be dealt with only in any future talks on a permanent peace deal with the Palestinians.
Reuters contributed to this report.