The announcement follows Prime Minister Keir Starmer's statement in July this year that the country's stance on the issue would shift if Israel did not agree to a ceasefire in Gaza and a long-term peace agreement with a two-state solution.
The recognition represents a major shift in British foreign policy. The previous government advocated that recognition would take place in connection with a peace process and at a time when it would have maximum effect.
Palestinian President Mahmoud Abbas has previously welcomed Britain's shift on the issue, while Israeli Prime Minister Benjamin Netanyahu has said that recognition "rewards terrorism".
Next week, the UN General Assembly will be held, when about a dozen other countries are expected to recognize Palestine as an independent state. As recently as on Saturday, Portugal announced that they will do the same.
