The truce got off to a rough start after the final 30 minutes running up to the expected Saturday 10:00 pm (1900 GMT) deadline saw a volley of fire.
Dozens of rockets were launched from Gaza towards Israel, prompting renewed air strikes, AFP correspondents in the territory said.
Most of the rockets were intercepted by Israeli air defences.
A few more rockets were fired after 1900 GMT, followed by fresh Israeli strikes, before things appeared to calm down.
Two rockets were fired from Gaza after 11:00 pm (2000 GMT) with no victims, the Israeli army said.
Egypt brokered the latest ceasefire, saying it had secured agreement from both Israel and the Palestinian militant group Islamic Jihad.
“Israel’s National Security Adviser Tsahi Hanegbi… thanked Egyptian President Abdel Fattah al-Sisi, and expressed the State of Israel’s appreciation for Egypt’s vigorous efforts to bring about a ceasefire,” a statement from the Israeli prime minister’s office said.
Israel’s response to the Egyptian initiative means “quiet will be answered by quiet, and if Israel is attacked or threatened it will continue to do everything it needs to do in order to defend itself”, he said.
Read the article in The Australian (AFP).