The University of New Brunswick and academic staff say they have reached a tentative agreement in the strike that has kept 10,000 students out of class for more than two weeks.
A joint news release from the university and the union says they are recommending suspension of the walkout after reaching the deal.
The strike began on Jan. 13 with picket lines at campuses in Fredericton, Saint John, Bathurst and Moncton.
The Association of University of New Brunswick Teachers had asked for a 20 per cent wage increase over four years and the university was originally offering 9 per cent.
The union said their requested increase was needed in order for the faculty to catch up with their counterparts elsewhere in Canada.
The joint news release says the two sides have reached a deal on the key issues related to wages and further details will be released by the end of Friday.
The two sides were ordered back to the bargaining table earlier this week by the provincial government and a mediator was brought in.