After 11 days of fighting, Israel and Hamas agreed to a ceasefire on Thursday through a truce proposed by Egypt.
This halts the conflict that killed over 230 Palestinians in Gaza and 12 people in Israel.
Israeli Prime Minister Benjamin Netanyahu's office said his Security Cabinet had unanimously approved the Egyptian-mediated deal.
After negotiating the ceasefire with both parties, Egypt announced that a security delegation would be dispatched both to Gaza and Israel to monitor and help stabilize the agreement.
"We hope that it will last. Any life that we can save warrants, all of the efforts that we are making. And we're making as many efforts as possible and up to the last minute possible."
U.S. President Joe Biden responded by saying the U.S. will also work with the United Nations and other international stakeholders to provide rapid humanitarian support for the people of Gaza.
He added that this will be in full partnership with the Palestinian Authority, not Hamas and will be done in a manner that does not permit Hamas to simply restock its military arsenal.
"I believe the Palestinians and Israelis equally deserve to live safely and securely and enjoy equal measures of freedom, prosperity and democracy. My administration will continue our quiet, relentless diplomacy toward that end, I believe we have a genuine opportunity to make progress and I'm committed to working for it."
Biden also said the U.S. will replenish the Iron Dome interceptors that helped Israel fend off more than 4,300 rockets fired from Gaza during the this month's conflict.
Meanwhile, the head of the UN said efforts are needed to address the underlying causes of the conflict.
"I stress that Israeli and Palestinian leaders have a responsibility beyond the restoration of calm to start a serious dialogue to address the root causes of the conflict."
The Secretary-General also called on the international community to work with the UN to support a swift and sustainable recovery for the Palestinian people.
South Korea's foreign ministry also said it hopes the ceasefire agreement will last and sent deep condolences to the families who lost loved ones in the fighting.
It added that South Korea will be providing humanitarian support for the people of Gaza.
Bae Eun-ji, Arirang News.