Donald Trump has told reporters that Iran is on the brink of signing an agreement with the US, which will reportedly see the stripping of Iran's of nuclear assets and capabilities.

The 47th US President informed the press pack aboard Air Force One on Sunday that discussions between the two adversarial nations are set to resume on Monday, with a peace agreement 'on Hormuz' and 'on the nuclear' allegedly to follow soon afterwards.

His revelation to the press came hours after the US President took to social media to praise himself for scrapping a plan to launch a "massive attack" against Iran in the interests of peace. On audio leaked online, a reporter can be heard asking the US President: "What prompted you to call off the strike last night?".

Trump then replied: "I was asked to by Saudi Arabia, by [the] UAE, and by Qatar, and by Iran. We were all set to go, just about at this time right now, and it would have been a massive attack."

The US President went on to say: "We were all set to go, but when the allies asked to call it off, you gotta sort of say, "Well, let's see. " And the reason they asked is I think there's a deal. There's a deal on Hormuz, and then there will be a deal on the nuclear-or, you might call it the denuclearisation of Iran."

The prospect of a formal peace agreement between the US and Iran emerges just a day or so after Trump took to his favoured social media platform, Truth Social, to congratulate himself on calling off a planned strike against the Gulf nation.

His post declared: "The U.S.A. is locked and loaded and ready to go against the Islamic Republic of Iran, at levels of Military Terror, Strength, and Power not seen since World War II.

"Despite this, we have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to. This would include the Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran's nuclear threat.

"Based on this request, I have agreed, for the future benefit of the WORLD and, likewise, the survival of a successful and prosperous Iran, to cancel the attack, subject to being able to rapidly make a DEAL. The Country of Israel joins me in this commitment. Get to work, everybody, and get it DONE. Thank you for your attention to this matter! President DONALD J. TRUMP."

This development comes as Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto leader, conveyed his reservations to Trump during a phone call regarding the possibility of the US intensifying the conflict with Iran, according to a person familiar with the leaders' discussion.

The Saudis, according to the individual briefed on the content of the call but not authorised to speak publicly, are worried that should the US target Iran's energy infrastructure or launch substantial strikes on other critical installations, Tehran could retaliate by attacking the kingdom's and other Gulf nations' energy infrastructure. The Crown Prince during Saturday's call sought clarity from Trump on what potential new action he's weighing to take against Iran, the person said.

A White House official, who was not authorised to comment publicly and requested anonymity, confirmed the leaders spoke on Saturday but did not offer any detail about the substance of their conversation.