World leaders on Thursday urged Israel and Hamas to honor their commitments after President Donald Trump announced the “first phase" of a peace deal, calling it a major breakthrough in Israel's two-year war on Gaza.

Hamas will release all 20 living hostages in the coming days in exchange for Palestinian prisoners, while the Israeli military will begin a withdrawal from the majority of Gaza.

"This means that ALL of the Hostages will be released very soon, and Israel will withdraw their Troops to an agreed upon line as the first steps toward a Strong, Durable, and Everlasting Peace," Trump wrote on social media.

Israeli Prime Minister Benjamin Netanyahu said on social media: "With God’s help we will bring them all home."

Egyptian President Abdel-Fattah el-Sissi on Thursday hailed the deal between Israel and Hamas as a "historic moment."