Intense negotiations between the P5+1 and Iran have ended with an agreement, under which Tehran will reduce its uranium enrichment capacity in exchange for phased sanctions relief.
US President Barack Obama said a "historic understanding" had been reached with Iran.
The P5+1, the US, UK, France, China and Russia plus Germany - and Iran, have been in negotiations for months and a deadline to reach an agreement on March 31 was missed.
Under the deal, Iran will face more inspections than any other country, President Obama said.
"If Iran cheats, the world will know it," he said, adding that the deal was based not on trust but on "unprecedented verification".