Israel and Lebanon-based Hezbollah militants began a ceasefire Wednesday in a major step toward ending nearly 14 months of fighting as a region on edge wondered whether it will hold.

The agreement with Lebanon will maintain Israel's freedom of operation there to act in defence to remove threats posed by Hezbollah and enable displaced residents to return safely to their homes in northern Israel, Israeli government spokesperson David Mencer told Reuters.

Israel and Lebanon have accepted a proposal to end the 13-month border conflict that spiraled into an all-out war in September with Hezbollah. Here are the details about the Israel-Hezbollah ceasefire