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.

Two Americans held in Gaza are on the list of hostages to be released in first six-week phase of the Israel-Hamas ceasefire deal that was announced Wednesday, a source familiar with the matter said.

The Israel government and Hamas have agreed to a deal that will pause fighting in Gaza and lead to the phased release of hostages and Palestinian prisoners, a source briefed on the talks has told CNN.