The Israel Defense Forces said more than 30 rockets had been fired into Israel since late Friday.
Following the exchanges, Islamic Jihad's media office announced on Saturday morning that it had accepted an Egypt-mediated ceasefire with Israel.
Earlier, Israeli military spokesperson Lieutenant-Colonel Jonathan Conricus accused Syria and Iran of involvement in the rocket attack.
Islamic Jihad declared truce with Israel after a violent weekend in which Palestinians in the Gaza Strip fired 37 rockets at southern Israel and the IDF hit 95 targets in the Hamas-ruled enclave.
Islamic Jihad, the second largest militant group in Gaza, hailed the rocket fire in a statement as a response to "Israeli aggressions", stopping short however of directly claiming responsibility for the launches.
The barrage of rockets, which began late Friday and continued into Saturday, triggered extensive retaliatory strikes by Israeli aircraft against Gaza that risked escalating into a wider conflict.
Hamas, an Islamist terror group that seized control of the Strip in 2007 and seeks to destroy Israel, has acknowledged that dozens of the dead were its members.
Zionist Union MK Salah Saad invited Gaza border communities residents to "leave behind the rockets and the air sirens and reach Beit Jann", the Druze village Saad hails from and still lives in today.
Earlier on Friday, thousands of Palestinians gathered at five locations along the border, burning tires and throwing rocks and firebombs at Israeli troops, who responded with tear gas and occasional live fire.
"The Egyptian efforts led to understandings to restore calm to Gaza Strip".
The Gaza protest campaign has included frequent attempts to cut through the 10-foot-high (3-meter) wire border fence to enter Israel.
The protesters are calling to be allowed to return to lands their families fled or were expelled from in the 1948 war that accompanied Israel's creation.
According to the Palestinian Health Ministry, 213 Gazans have been killed by Israeli forces during the protests. Opening a new front in Syria could put Israel in open confrontation with heavily armed Iranian and Hezbollah forces, along with recently deployed Russian anti-aircraft systems.
Israel has struck Syria dozens of times in recent years, saying it is preventing Iran from supplying advanced weapons to enemies of the Jewish state.
Since the marches began six months ago, at least 160 Palestinians present or taking part in the protests have been killed.
Oman's foreign affairs minister Yousuf bin Alawi bin Abdullah said on Saturday the sultanate was offering ideas to help Israel and the Palestinians come together but was not acting as mediator.
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