Facebook implemented the ban last Thursday after the Federal Government proposed media bargaining laws that would see media platforms pay news outlets for content.
However, news media outlets were not the only organisations affected by the ban, as both Bureau of Meteorology and Queensland Health were impacted among others.
Several statements were made both by the Government and Facebook, with both seeming excited to have reached an agreement.
The Federal Government has made further amendments to the news media bargaining code, including a final offer arbitration.
The arbitration would see the introduction of an independent mediator if both organisations were not able to reach an agreement.
The arbitration would mean the mediator would then choose between each proposal, whereby it would then become binding under law.
The decision to lift the band was made this afternoon, and it will be put into effect by the end of the week.
