The deal brokered by Egypt bridges a bitter gulf between the Western-backed mainstream Fatah party of Palestinian President Mahmoud Abbas and Hamas, an Islamist movement designated as a terrorist group by Western countries and Israel.
The 2011 agreement stipulated that legislative, presidential and national council elections should be conducted within one year of its signing. Details of the deal will be made public at a news conference scheduled later for Thursday.
According to a readout of a telephone call issued by a United Nations spokesperson, Mr. Guterres said he was encouraged by the recent progress in allowing the Palestinian Government to take up its responsibilities in Gaza and welcomed Egypt's efforts to achieve this goal.More news: Heavy rain likely in northern Odisha
A senior Palestinian official said Abbas, the leader of Fatah, might visit Gaza in the coming weeks, depending on the successful implementation of the agreement.
Israel viewed the Palestinian accord warily, saying it must abide by previous global agreements and terms set out by the Quartet of Middle East peace mediators - including the recognition of Israel and the disarming of Hamas. Hamas and Israel fought three devastating wars over the past decade.
Faced with increasing isolation and a severe electricity shortage, Hamas has reached out to Cairo for help, hoping to have the Rafah border with Egypt opened.
Previous attempts at reconciliation have repeatedly failed, and many analysts are treating the latest bid with caution, waiting to see if actual change will occur on the ground.More news: How to install MovieBox++ on iOS 11 devices without jailbreak
The crossing has remained largely closed in recent years. Israel and Egypt imposed a blockade on the territory, severely restricting Palestinians from leaving the territory and goods from entering.
The publicly-released parts of the agreement did not specify what would happen to Hamas' armed wing.
Ahead of the negotiations in Cairo, Israeli President Benjamin Netanyahu warned against "fake reconciliations" and stated once again that Israel demands the demilitarization of Hamas.More news: How Smart Speakers Differ Pricewise
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