After multiple rounds of tough negotiations, Israel and the Palestinian Hamas movement are said to have agreed to a Qatari-mediated prisoner swap. While some details are reportedly outstanding, the accord seems set to be implemented in the coming days—marking the biggest diplomatic breakthrough since the Gaza war erupted last month.

The deal commits the two sides to a four-day pause in fighting. Hamas will release a minimum of 50 Israelis abducted during its Oct. 7 surprise attack on communities near Gaza. In exchange, Israel will free at least 150 Palestinian prisoners. Those released will be women and children. There is also the prospect for the truce to be extended—if Hamas releases ten prisoners per day. It is also said that the Red Cross will get to visit those who will not be freed and provide them with...