Israel and its ally, the United States, have both refused to sign up to the court, which was set up in 2002 to be the only global tribunal trying the world's worst crimes, war crimes and crimes against humanity.
The Palestinians, who signed up to the ICC in 2015, have already accepted the court's jurisdiction but have repeatedly urged the court to move faster.
A full ICC investigation could possibly lead to charges against individuals being brought. States cannot be charged by the ICC.
Senior Palestinian official Saeb Erekat called the decision a "positive and encouraging step that brings us closer to the opening of a criminal investigation into the crimes committed in Palestine in accordance with the Rome Statute, putting an end to the impunity of the perpetrators and contributing to the achievement of justice".
'End to the oppression'
Following Bensouda's announcement, Israeli Prime Minister Benjamin Netanyahu lashed out at what he called "a dark day for truth and justice". >>
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