"We will have a deal. Strike will end," the Brotherhood of Locomotive Engineers and Trainmen (BLET) said in a statement.
Terms of the agreement, which have not yet been released, will be sent to the union's 450 members who work as locomotive engineers or are trainees for their consideration, according to the union.
While the deal is being finalized, officials are warning riders that the train will take another day to get back up and running.
"Our train lines will not still work. They will start working Tuesday morning," said Kris Kolluri, NJT CEO. "The one favor that our riders can do for us one more time, is to, that if you could work from home, please do that."
The bus is an option for those who would normally take the train.
Extra buses are being made available at four regional Park & Ride locations, including Hamilton Rail Station, for those who would normally take the train.
"This is an extraordinarily complex operation. We run hundreds of trains a day. We have to make sure all the equipment is where it needs to be," Kolluri said.
Kolluri said it'll take all day Monday to get trains back in place and for staff to inspect the tracks.
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Officials said Monday is the second lightest day of transit ridership, so they will not be fully prepared for busiest days of the week, which start Tuesday.
NJ Transit and union leaders aren't giving the exact cost of the deal to end the strike, but Governor Phil Murphy weighed in when asked how this could impact the taxpayer.
"The taxpayer, from my humble opinion, is a winner here because of Kris," Gov. Murphy said. "We've been pounding away on this point. It has to be fair for the locomotive engineers, but it also has to be fiscally acceptable to NJ Transit and indirectly, therefore, for taxpayers."
Action News will look closely at the full details when made available in the coming days.
The BLET will begin to conduct a ratification vote by electronic ballot for participating members and the agreement will also be voted on by the NJ Transit board at their next meeting on June 11.
"While I won't get into the exact details of the deal reached, I will say that the only real issue was wages and we were able to reach an agreement that boosts hourly pay beyond the proposal rejected by our members last month and beyond where we were when NJ Transit's managers walked away from the table Thursday evening," Tom Haas, the general chairman for BLET, said in a statement.
All that union leaders will say for now is that they found a way to bump up pay with the goal of not increasing the fare to ride.
Locomotive engineers walked off the job Friday after not reaching a deal, bringing trains on the nation's third-largest transit system to a halt.
NJ Gov. Murphy celebrated the agreement, saying, "I am delighted to report that NJ Transit and the Brotherhood of Locomotive Engineers and Trainmen have reached a tentative agreement and as a result, New Jersey's first rail strike in decades has officially come to an end."
ABC News contributed to this report.