Hamas has reportedly agreed to a draft cease-fire deal with Israel that would include the release of dozens of hostages, according to The Associated Press, which cited “officials involved in the talks.” This potential agreement is the first sign in months that the war between Israel and Hamas, which has gone one of over a year, could be nearing its end.

The possible agreement will reportedly take place in three phases, the first of which would kick off a 42-day cease-fire. During that time, 33 hostages, including children, women, female soldiers, men over the age of 50 and humanitarian cases would be released. In exchange, Hamas would receive hundreds of Palestinian prisoners, including high-profile detainees. According to an Israeli government official, “most” of the 33 hostages who were abducted by Hamas from Israel on Oct. 7, 2023, are still alive.

Addressing the exchange of hostages for prisoners, the Israeli government official noted that there is a “price” for getting the terrorist group to release the captives. The source vowed, however, that Israel would “not leave the Gaza Strip until all of our hostages are back home.”

People inspect the debris and rubble at the site of Israeli bombardment on a residential block in Jalaa Street in Gaza City on Jan. 14, 2025, amid the ongoing war in the Palestinian territory between Israel and Hamas.

Qatari and Israeli officials who spoke with FOX News expressed optimism about the potential deal that could bring about an end to the war.

Thousands have been killed in the 15-month war, which started after Hamas’ brutal attacks on Oct. 7, 2023, in which more than 1,200 Israelis were killed and over 250 were taken hostage.

Efrat Lachter contributed to this report.