A ceasefire deal between Israel and Hamas in Gaza has been reached, a source confirmed to Scripps News.

The deal to pause the 14-month war includes the release of hostages held by Hamas, the source said. Hundreds of Palestinian prisoners held in Israel would be released in exchange, according to The Associated Press.

While the Biden administration has been working toward a ceasefire deal for months, President-elect Donald Trump took credit on social media.

"This EPIC ceasefire agreement could have only happened as a result of our Historic Victory in November, as it signaled to the entire World that my Administration would seek Peace and negotiate deals to ensure the safety of all Americans, and our Allies," he said in a post on Truth Social. "I am thrilled American and Israeli hostages will be returning home to be reunited with their families and loved ones. With this deal in place, my National Security team, through the efforts of Special Envoy to the Middle East, Steve Witkoff, will continue to work closely with Israel and our Allies to make sure Gaza NEVER again becomes a terrorist safe haven."

The current and incoming administrations worked together to reach the deal — Biden’s top Middle East advisor, Brett McGurk, and President-elect Trump’s Middle East envoy, Steve Witkoff, both taking part.

U.S. Secretary of State Antony Blinken said on Tuesday that they were on the brink of a deal.

President Joe Biden introduced the framework for the deal last year. The proposal included phases. The first phase includes a ceasefire, withdrawal of Israeli forces from populated areas, a surge in humanitarian assistance and the release of women, elderly and wounded hostages in exchange for Palestinian prisoners.

Scripps News confirmed that Israeli President Isaac Herzog met with the president of the International Red Cross to prepare for the transfer of hostages.