Under the deal, Turkey will deliver humanitarian aid and other non-military products to Gaza and a first shipment of 10,000 tons of aid would be sent next Friday, the premier told reporters during a press conference in Ankara.
Turkey will also in the future be allowed to deliver aid to Gaza and invest in infrastructure projects under the deal, the premier said.
The deal will see the two countries exchange ambassadors "as soon as possible", Yıldırım said.
The prime minister stated that the deal -- whose broad terms were announced by senior officials from both countries late on Sunday -- would be signed on Tuesday.
His Israeli counterpart, Benjamin Netanyahu, made a simultaneous announcement in Rome, saying the deal would help bring "stability" to the turbulent Middle East.
"The world is in turmoil. The Middle East is in turmoil. And my goal as prime minister is to create focus points of stability in this volatile and stormy region," Netanyahu said.
"We are two large powers in the region and the break between us didn`t benefit either of our mutual interests," the Israeli premier said.
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