The pause commenced at 7 a.m. local time (0500GMT).
Israel estimates that at least 240 Israelis are being held by Hamas following the cross-border attack by the Palestinian group on Oct. 7.
Both Israel and Hamas previously declared that they had reached an agreement for the release of 50 women and children currently being held hostage in Gaza. The deal would involve an exchange for 150 Palestinian women and children who would be freed from Israeli jails over the course of a four-day ceasefire.
That deal as well as the terms of the ceasefire were brokered with the help of Qatari, Egyptian, and American mediators.
Israel launched relentless air and ground attacks on the Gaza Strip following a cross border attack by the Palestinian group Hamas on Oct. 7.
The Palestinian death toll from Israeli attacks on the Gaza Strip has soared to 14,850, the government media office in the blockaded enclave said Thursday. The victims include 6,150 children and over 4,000 women, while more than 36,000 people have been injured, it said.
The official Israeli death toll stands at 1,200.