US President Donald Trump and the leaders of Egypt, Qatar, and Turkey have signed a declaration for bringing peace to Gaza at a summit in the Egyptian resort of Sharm el-Sheikh.
A new and beautiful day is rising and now the rebuilding begins, said Trump, praising regional leaders who helped cement the truce between Israel and Hamas.
Earlier, in his address to the Israeli parliament, the Knesset, the president told cheering lawmakers that the long and painful nightmare is finally over.
Israel is releasing 250 Palestinian prisoners and more than 1,700 other Palestinians detained during the two-year military operations in Gaza in exchange for the last 20 living Israeli hostages held by Hamas.
The exchange, the first phase of Trump's peace plan, is also due to include the return of the bodies of 28 dead Israeli hostages.
In Egypt, Trump was all smiles in the company of Egyptian President Abdul Fattah al-Sisi and more than 20 other leaders from around the world.
Everybody's happy, Trump said, adding that he had done big deals before but this has taken off like a rocket ship.
This took 3,000 years to get to this point, can you believe it? And it's going to hold up too, he said.
After the ceremony, President al-Sisi awarded Trump the Order of the Nile, a necklace made of pure gold considered to be Egypt's highest honour.
The Egyptian president called the day a historic milestone that ends an agonising chapter.
Among the many world leaders at the summit were Palestinian Authority President Mahmoud Abbas, who was blocked by the US from attending the UN General Assembly in New York.
Although the first phase of the ceasefire agreement has been enacted, there is a lingering question over what role the Palestinian Authority might eventually play in Gaza.
Trump said the second phase of negotiations on a peace agreement were under way.
During his address to Knesset, Trump's rhetoric suggested the region was experiencing the historic dawn of a new Middle East.
His words echoed phrasing used when Israel signed landmark deals with several Arab states during his first presidency.
At last, not only for Israelis but also Palestinians, the long and painful nightmare is finally over, Trump told the Israeli parliament.
The ceasefire he helped to broker was called the most challenging breakthrough of them all, the most challenging breakthrough maybe ever by Trump.
Trump also voiced thoughts on the ongoing Russia-Ukraine war, indicating it would be his next focus.
During his talks with Israeli Prime Minister Benjamin Netanyahu, Trump criticized the continuing military campaign in Gaza as detrimental.
He referred to Netanyahu as a complex but ultimately great counterpart to work with in this historic negotiation.
Trump's supporters in parliament wore hats emblazoned with Trump the Peace President, as he was lauded by lawmakers for his efforts to achieve lasting peace in the region.
Not all lawmakers attended, with some advocating for continued military action in Gaza.
Despite opposition, the overarching sentiment at the event was one of hope for a better future as the first phase of Trump's peace plan takes effect.
