The cease-fire deal between Israel and Hamas was formally signed by negotiators in Qatar, Prime Minister Benjamin Netanyahu announced Thursday night — hours after several setbacks threatened to upend the agreement.

The proposed terms, which include the release of hostages and at least a temporary pause in fighting in Gaza, were agreed to by the Israeli and Hamas negotiating teams, the Israeli prime minister’s office said in a statement.

Netanyahu said his security cabinet would meet later on Friday to vote on the long-awaited deal.

The full cabinet must then approve the agreement, though they aren’t expected to convene until Saturday night, a Netanyahu spokesperson told The Times of Israel.

The Saturday vote could delay the start of the cease-fire to Monday, a day later than originally expected, according to the report.

The expected 42-day peace deal had hit a few snags Thursday over government infighting and Hamas’ alleged “last-minute blackmail attempt” — leading Netanyahu to delay the cabinet vote.

The holdup reportedly involved demands from Hamas that Israel not get veto rights over which prisoners were released.

Hamas also took issue with the deployment of Israeli forces in the Philadelphi corridor – the strip of land that borders Egypt that was taken over by Israeli troops in May, according to an Israeli government spokesperson.  

Internal strife included Israeli National Security Minister Itamar Ben-Gvir threatening that his far-right party would resign from Netanyahu’s government if the current cease-fire deal went through.

The bloody war between the two sides erupted after the Oct. 7, 2023 terror attack in Israel where Hamas terrorists killed 1,200 people and took 250 hostages back to Gaza.

About 100 hostages are estimated to still be trapped in Gaza, though at least a third of them are believed to be dead.

Israeli hostages would be swapped for a larger number of Palestinians imprisoned by Israel, according to the agreement.

Here’s how the proposed three phases would work out, according to a current draft obtained by news outlets:<br>

Phase 1

• The first phase will halt fighting for 42 days with 33 Israeli hostages incrementally freed from captivity in exchange for the release of hundreds of Palestinians imprisoned by Israel.
• On the first day, Hamas released three hostages, which will lead to weekly releases during the initial six-week period.
• Israel will let 30 Palestinians go in exchange for every civilian hostage freed from Gaza, and 50 Palestinian prisoners, for every female Israeli soldier released.
• Israeli forces will pull back, allowing displaced Palestinians to return to their homes.

Phase 2

• If Israel and Hamas reach a further agreement, all remaining hostages are supposed to be freed and in return Israel will completely withdraw from Gaza during this phase.
• Hamas needs to agree to remove itself from power — something it has hinted it is willing to do — but could still be a factor in a future government, which Israel does not want.
• While the draft agreement states a second phase deal must be reached by the end of phase one, Hamas had called for written guarantees that the temporary peace could continue until an agreement is struck.

Phase 3

• The third – and final phase — would entail Hamas trading the bodies of the rest of the remaining hostages in Gaza in return for a 3- to 5-year rebuilding plan in the decimated Palestinian territory under international supervision.

The cease-fire deal has three phases, with 33 hostages to be released over a six-week period of peace during the initial stage.

Three hostages were initially set to be let go on Sunday, which is when the cease-fire was expected to begin.

If the two sides reach a second phase agreement, the rest of the hostages would be freed and Israel would completely withdraw from Gaza.

The third phase would entail Hamas surrendering the bodies of the rest of the hostages with a plan to rebuild the war-torn Palestinian territory under international eyes.

President-elect Donald Trump, whose team was instrumental in getting a deal reached, said during a podcast interview with conservative media figure Dan Bongino that the cease-fire deal better be finalized before he is sworn into office on Monday.

He also took credit for his role in the deal.

“We changed the course of it, and we changed it fast, and frankly, it better be done before I take the oath of office,” he said, adding, “we shook hands, and we signed certain documents, but it better be done.”

“I’m not looking for credit. I want to get these people out,” he said. “We’ve got to get them out.”

With Post wires