Israel declared a unilateral ceasefire at 2 a.m. local time (0000 GMT) on Sunday after three weeks of fighting, saying it had achieved all its objectives. At the same time, Israel said its troops would remain in the enclave.
"Since the start of the armed conflict in Gaza, Russia has been persistently seeking the main thing: to stop the bloodshed, the death and sufferings of Palestinian and Israeli civilians as soon as possible. Any step towards this goal, including the unilateral ceasefire cannot but be welcomed," the ministry said in a statement.
Western media reported later on Sunday that radical militant group Hamas, which controls the Gaza Strip, also declared an immediate ceasefire several hours after Israel's announcement, adding that the militants gave Israel a week to pull its troops out of the enclave.
The Russian Foreign Ministry said Russia would continue to take all possible efforts at the regional and international level to help overcome the Israeli-Palestinian conflict and settle the situation by political means.
Israel launched a major military offensive in Gaza on December 27 in a bid to put an end to rocket attacks on Israeli territories from the Hamas-controlled enclave. Since the beginning of the operation, over 1,100 Palestinians have been killed, more than half of them civilians, according to the Palestinian health ministry.
Israel's casualties have been estimated at 13, including 10 military personnel.