Viktor Yanukovych’s statement said the agreement would be signed later.
However, the French foreign minister voiced caution, saying the deal was not definitive, and the opposition has not confirmed Viktor Yanukovych’s claim.
Protesters and police are still locked in a stand-off in Kiev, a day after dozens were killed in violent clashes.
Hours after Viktor Yanukovych announced the deal, more violence was reported in central Kiev.
The police said they had traded gunfire with protesters, and Ukrainian media said riot police were patrolling inside parliament during a session.
The protests first erupted in late November when President Viktor Yanukovych rejected a landmark association and trade deal with the EU in favor of closer ties with Russia.
Thursday was the bloodiest day since the unrest began.
Police opened fire after protesters tried to push them away from the makeshift camps they have been occupying in central Kiev.
The health ministry said 77 people had been killed since Tuesday, and another 577 were injured. But activists suggested the death toll was likely to be much higher.
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