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.

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

The deal, mediated by the United States, offered a glimmer of hope in a conflict that has taken an immense human toll.