The remarks came after the White House released a peace plan to end the two-year-old Gaza war.

"Your (Trump) plan to end the war in Gaza achieves our war aims. It will bring back all our hostages, dismantle Hamas' military capabilities, end its political rule, and ensure that Gaza never again poses a threat to Israel... When our two countries stand shoulder to shoulder, we achieve the impossible," Netanyahu said.

He also acknowledged the role of Donald Trump in the 12-day Israel-Iran war that made the region and the world "safer"

"Just a few months ago, in Operation Rising Line and Operation Midnight Hammer, we struck a decisive blow against Iran's nuclear and ballistic missile program. Your bold decision to send those B-2s made the region safer and the world safer... Your plan is consistent with the five principles my government set for the end of the war and the day after Hamas...," the Israeli PM said.

He also detailed the plan of Israel, including disarming Hamas. He called for a "peaceful civilian administration" to administer Gaza and ruled out any role for Hamas or the Palestinian Authority.

"Here's our plan. Pass it in the cabinet. All our hostages, alive and dead, will return home. Hamas will be disarmed. Gaza will be demilitarised. Israel will retain security responsibility, including a security perimeter for the foreseeable future. Gaza will have a peaceful civilian administration, run neither by Hamas nor by the Palestinian Authority. If Hamas agrees to your plan, the first step will be a withdrawal, followed by the release of all our hostages within 72 hours," Netanyahu said.

He warned that Israel will "finish the job" by itself in case Hamas rejects the peace plan announced by Donald Trump and called for the establishment of an International body to fully "disarm" Hamas

"The next step will be the establishment of an international body charged with fully disarming Hamas and demilitarising Gaza. I appreciate your willingness to lead the body... If this international body succeeds, we will have permanently ended the war... We're giving everybody a chance to do this peacefully... But if Hamas rejects your plan, or if they accept it and then counter it, then Israel will finish the job by itself. This can be done the easy way or the hard way. But it will be done..."

Earlier, US President Donald Trump on Monday (local time) stated that the Gaza peace proposal, "if accepted by Hamas," means the "immediate end of the war itself", remarks made during a joint press conference with Israeli Prime Minister Benjamin Netanyahu.