"In regards to the indefinite, unilateral ceasefire declared by the FARC on December 18, we must recognize that they have fulfilled it," Santos said.
"In order to start the de-escalation of the conflict, I have decided to order the minister of defense and armed forces commanders to cease bombardments over FARC camps for one month," he added.
He also said that the suspension of bombing raids against FARC rebels will not be extended to Colombia's smaller rebel group, the National Liberation Army, which had "increased its criminal activities," according to Santos.
He said that the government could extend the order not to bomb the rebels if they continued to honor their ceasefire.
At the same time, he warned that the military would immediately resume bombing if the FARC violated the truce.
The Colombian government and the FARC have been holding peace talks in the Cuban capital Havana since November 2012. They have led to temporary agreements on a spate of issues, but are yet to clinch a final accord.
The civil conflict has claimed at least 220,000 lives and displaced or uprooted more than five million more since the FARC was established in 1964.
