In a statement the group’s spokesman said after Egyptian mediation a “ceasefire agreement was reached with Israel to return to calm.”
He told AFP that Gaza’s rulers Hamas were also committed to it, though there was no immediate confirmation from Hamas or Israel.
“All factions, including Hamas and Jihad, are committed to understandings for calm,” Jihad spokesman Dawoud Shihab told AFP.
Islamic Jihad and Hamas had earlier claimed responsibility for dozens of mortars and rockets fired from Gaza early Tuesday.
In response, the Jewish state hit dozens of “military targets” in Gaza, with strikes continuing Tuesday evening.
Three Israeli soldiers were wounded by projectiles fired from Gaza, one moderately and two lightly, said the army. There were no immediate reports of any casualties in the strip.
The clashes raised fears of another round of conflict in Gaza.
An Islamic Jihad source told AFP the ceasefire would go into effect within hours.
Israel has fought three wars with Hamas since 2008.