Palestinians celebrated on the streets of Gaza, while loud-speakers in Mosques hailed “victory of the resistance over the occupation”. Israel also claimed victory.
The ceasefire came into effect at 2am Jerusalem time after being validated by the Israeli government’s security cabinet.
Each side said it was ready to retaliate for any violations, with a Hamas official warning its hands were still “on the trigger”.
A spokesman for the Israeli embassy in Paris, Simon Seroussi, told France Info radio: “We will resume hostilities if we are attacked again.”
Cairo said it would send two delegations to monitor the truce.
Meanwhile US President Joe Biden said the deal brought “genuine opportunity” for progress, also promising humanitarian aid for Palestinians in the Gaza Strip, where most deaths occurred.
Secretary of State Antony Blinken is to travel to the Middle East “in the coming days”, where he would meet with Israeli, Palestinian, and regional leaders.
Medical officials in Gaza said more than 100 women and children were among its casualties. On the Israeli side, authorities said two children were among 12 people killed.