NEW DELHI: Israel and Lebanon are on the verge of a ceasefire deal to end the conflict between Israel and Iran-aligned Lebanese militant group Hezbollah, Axios reported citing two Israeli and two US officials.

Israel and Hezbollah have exchanged fire for over a year in parallel with the Israel-Hamas war in the Gaza Strip, which began on October 7, 2023. 

In more than a year of fighting, over 3,500 people have been killed in Lebanon and more than 15,000 have been injured.

The Axios report on Monday said that the expected ceasefire deal included a 60-day transition period during which Israeli troops would withdraw from southern Lebanon, the Lebanese Army would be deployed in areas close to the border, and Hezbollah would move its heavy weapons north of the Litani River.

The deal included a US-led oversight committee to monitor implementation and address violations.The Israeli and American officials told the publication that Washington agreed to give Israel a letter of assurances that included support for Israeli troops' action against imminent threats from Lebanese territory, and for action to disrupt things like the reestablishment of a Hezbollah military presence near the border or the smuggling of heavy weapons.

Axios further reported that as per the deal, Israel would take such action following consultations with the US, and if Lebanon did not deal with the threat.

The deal was nearing completion last Thursday when the International Criminal Court (ICC) issued arrest warrants against Israeli Prime Minister Benjamin Netanyahu and Defence Minister Yoav Gallant.

Last week, a senior American mediator said that there was a "real opportunity" to end the conflict between Israel and Hezbollah. 

US mediator Amos Hochstein held talks with Lebanese Parliament Speaker Nabih Berri in Beirut, a report by the news agency Reuters said.

Following the meeting, Hochstein told reporters, "I came back because we have a real opportunity to bring this conflict to an end."

"It is now within our grasp. As the window is now, I hope the coming days yield a resolute decision," he added.