Biden expressed hope that the pause in more than 13 months of fighting will be catalyst to also end the war in Gaza.
He stressed that Israel reserved the right to quickly resume operations in Lebanon if Hezbollah breaks the terms of the truce.
Biden added that the deal between Israel and Hezbollah “was designed to be a permanent cessation of hostilities”.
“This is designed to be a permanent cessation of hostilities,” he said. “What is left of Hezbollah and other terrorist organisations will not be allowed to threaten the security of Israel again.”
In his address, Netanyahu added that there were three reasons to pursue a ceasefire – to focus on Iran, replenish depleted arms supplies and give the army a rest, and finally to isolate Hamas, the militant group that triggered war in the region when it launched an attack on Israel from Gaza last year.
He said Hezbollah, which is backed by Iran and allied to Hamas, was considerably weaker than it had been at the start of the conflict.
“We have set it back decades, eliminated … its top leaders, destroyed most of its rockets and missiles, neutralised thousands of fighters, and obliterated years of terror infrastructure near our border,” he said.
“We targeted strategic objectives across Lebanon, shaking Beirut to its core.”