From Reuters:

Israel and the Islamist militant group Hamas agreed on Wednesday to a Gaza ceasefire deal, said a Palestinian official with knowledge of Egyptian mediation between the two sides.

The official declined to be named or to give further information.

Update, 12:18: The Times of Israel is reporting that Israeli sources are also confirming a ceasefire will be announced in Cairo tonight with Secretary of State Hillary Clinton and Egyptian President Mohamed Morsi on hand. The Prime Minister’s Office has not confirmed.