US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu have unveiled a new peace plan for Gaza, calling on Hamas to accept the terms or face further military action.

The proposal calls for an immediate halt to military operations. Within 72 hours, Hamas would release 20 living Israeli hostages and return the remains of more than two dozen believed dead, in exchange for the release of hundreds of detained Palestinians.

A copy of the 20-point plan has been handed to Hamas officials through Qatari and Egyptian intermediaries. The document states that Hamas will have no role in governing Gaza but leaves open the possibility of a future Palestinian state.

At a White House press conference, Trump called the plan “a historic day for peace,” while affirming US support for Israel if Hamas rejects the offer. Netanyahu echoed this, saying Israel “will finish the job” if Hamas fails to comply.

The Palestinian Authority welcomed the US efforts as “sincere and determined,” pledging cooperation with the US and regional partners to end the war, ensure humanitarian aid, and secure the release of hostages and prisoners.

The plan outlines steps including the destruction of Hamas weapons and tunnels, the exchange of remains on both sides, and the immediate entry of aid once an agreement is signed. Gaza would be temporarily administered by a technocratic Palestinian committee under the supervision of a new international body, the “Board of Peace,” to be led by Trump with former UK Prime Minister Tony Blair among its members.

Global leaders including UK Prime Minister Keir Starmer, French President Emmanuel Macron, and European Council President Antonio Costa expressed support for the proposal, urging Hamas to accept it as a step toward lasting peace.

The plan also promises staged Israeli withdrawals, reconstruction efforts, and an economic development program for Gaza. Unlike earlier positions, it does not call for Palestinians to leave Gaza but instead encourages rebuilding within the territory.

Hamas has said it is willing to review any proposal that could end the war but insists any deal must secure Palestinian rights, guarantee full Israeli withdrawal, and allow for an independent Palestinian state along 1967 borders.

The announcement comes amid heavy criticism of Israel at the UN, where Netanyahu denounced recognition of a Palestinian state by several Western countries. His speech prompted a walkout by dozens of diplomats.