In a television address, Netanyahu said he would put the ceasefire accord to his full cabinet later in the evening. Israeli TV reported that the more restricted security cabinet had earlier approved the deal.

"We will enforce the agreement and respond forcefully to any violation. Together, we will continue until victory," he said.

"In full coordination with the United States, we retain complete military freedom of action. Should Hezbollah violate the agreement or attempt to rearm, we will strike decisively."

He added that there were three reasons to pursue a ceasefire -- to focus on Iran, replenish depleted arms supplies and give the army a rest, and finally to isolate Hamas, the militant group that triggered war in the region when it launched an attack on Israel from Gaza last year.

He said Hezbollah, which is backed by Iran and allied to Hamas, was considerably weaker than it had been at the start of the conflict.

"We have set it back decades, eliminated ... its top leaders, destroyed most of its rockets and missiles, neutralized thousands of fighters, and obliterated years of terror infrastructure near our border," he said.

"We targeted strategic objectives across Lebanon, shaking Beirut to its core."