To get down to practicalities, here are the 3 stages of the deal: note, to get all the live hostages back, it has to move to stage 2
First stage
The first stage would last 42 days, or six weeks, and see "a full and complete ceasefire", US President Joe Biden said as he confirmed a deal had been reached on Wednesday.
Sheikh Mohammed said Hamas would release 33 Israeli hostages, including "civilian women, female soldiers, children, the elderly, and sick and wounded civilians".
In exchange, he added, "a number" of Palestinian prisoners held in Israeli jails would be released.
Israeli government spokesman David Mencer previously said most but not all of the 33 hostages - which include children - were thought to still be alive.
Three hostages would be released on the first day, a Palestinian official previously told the BBC, with the rest of the exchange taking place at regular intervals over the six weeks.
During this first stage, Israeli troops will pull out of "all" populated areas of Gaza, Biden said, while "the Palestinians [could] also return to their neighbourhoods in all the areas of Gaza".
Almost all of Gaza's 2.3 million people have had to leave their homes as Israel has carried out continuous strikes across the territory and issued mass evacuation orders for large residential areas.
There will also be a surge in humanitarian aid deliveries to Gaza, with hundreds of lorries allowed in each day, as well as the rehabilitation of hospitals, clinics and bakeries, Sheikh Mohammed said.
The Palestinian official previously said detailed negotiations for the second and third stages would begin on the 16th day of the ceasefire.
Biden said the ceasefire would persist "as long as the negotiations continue".
Second stage
Stage two would be "a permanent end to the war", according to Biden.
The remaining living hostages, including men, would be released in return for more Palestinian prisoners.
Of the 1,000 Palestinian prisoners Israel is thought to have agreed to release overall, about 190 are serving sentences of 15 years or more.
An Israeli official previously told the BBC that those convicted of murder would not be released into the occupied West Bank.
There would also be a full withdrawal of Israeli troops from Gaza.
Third stage
The third and final stage involves the reconstruction of Gaza - something which could take years - and the return of any remaining hostages' bodies.