Hezbollah is considering a US-Israeli ceasefire proposal, sources told CNN, as diplomatic efforts to end the conflict between Israel and the Lebanese militant group intensify.

Since late September, Israel dramatically escalated its bombardment of Lebanon, vowing to cripple Hezbollah and end its barrages in Israel. More than 3,400 people have been killed in Lebanon by Israeli fire — 80 per cent of them in the past month — Lebanon's Health Ministry says.