Netanyahu spoke up and threatened: If they violate cease-fire agreement... VIDEO

Netanyahu said Israel would "guarantee" that Gaza would no longer pose a "threat" and promised to return residents of northern parts of Israel safely to their homes.

"The war will not end until we achieve all our goals," Netanyahu said.

Netanyahu says that if Hezbollah violates the ceasefire agreement by arming and attacking, then Israel will respond "very strongly."

Israel's prime minister says there are three main reasons why this is the right time for a ceasefire agreement. He says the deal means Israel can focus on the "Iranian threat".

"The agreement also allows Israel to 'refresh' and 'rearm' its troops," Netanyahu said, adding that it was "no secret" that there had been "major delays" in the supply of weapons.

We will soon be armed with sophisticated weapons that will help protect our troops and give us even more power to complete our missions.

The third reason, he says, is the isolation of Hamas.

"Hamas counted on Hezbollah to fight together and when Hezbollah is eliminated, Hamas is left alone," he says. Our pressure on Hamas will become stronger, and that will help us... to return our hostages - the Prime Minister of Israel added.

The Israeli leader says Hassan Nasrallah, the "head of the snake", was killed as were "all the leaders" of Hezbollah.

We destroyed most of the rockets and missiles. We have killed thousands of terrorists, destroyed underground and terrorist infrastructure near our borders. He says that all this just three months ago "sounded like science fiction", but "we succeeded".

Netanyahu says he is "determined" to keep Israeli soldiers alive and safe. "That's why tonight I will present to the cabinet a plan for a cease-fire in Lebanon," he says.