Organisers of the climate talks in Paris say a final text has been agreed after nearly two weeks of intensive negotiations.
An official in the office of French Foreign Minister Laurent Fabius told the AFP news agency the draft would be presented to ministers at 10:30 GMT.
No details of the agreement have been released so far.
The deal in the French capital was reached nearly 16 hours after the talks had been scheduled to close.
"We have a text to present," the official said, adding that the draft would be now translated into the UN's six official languages.
Mr Fabius, who has presided over the talks, had said earlier that the "conditions were never better" for a strong and ambitious agreement.
He added that the was confident of presenting the final draft early on Saturday morning.
Significant progress had been reported on a range of issues in the latest version of the document, with evidence of real compromise between the parties, reports the BBC's environment correspondent Matt McGrath in Paris.
He adds that countries supported a temperature goal of 2C but agreed to make their best efforts to keep the warming rise to 1.5C. However, the language on cutting emissions in the long term was criticised for significantly watering down ambition.