A cease-fire between Israel and militant Palestinian groups in Gaza will take effect Tuesday evening, a Palestinian source and Israeli media said.

The agreement will be announced at 9:00 p.m. local time (1900 GMT). By midnight, a full lull should prevail, the source said.

Representatives of Palestinian factions and Egyptian officials who helped broker the agreement are scheduled to declare it at a press conference in the Egyptian capital of Cairo in the evening.

The source said that the Palestinian factions got assurances that Israel will respect the agreement.

The latest move came following the seventh day of mutual attacks between the two sides in the Gaza Strip.

Earlier in the day, Egyptian President Mohamed Morsi was quoted by local media as saying that the Israeli aggression on Gaza will end on Tuesday, and the efforts on truce between Israel and Gaza will have positive results within hours.

Egypt is leading regional and international efforts on a cease- fire agreement between the battling sides in Gaza, after a week of violence have claimed the lives of at least 125 Palestinians and three Israelis.