Palestinian medical sources said more than 170 people were wounded in the attack on Shujaiya neighborhood on Wednesday evening. A prominent journalist is believed to be among the dead.
Medics say the death toll is expected to rise as some of the seriously injured are said to be in critical condition.
At least 19 people were also killed after Israeli tanks shelled another UN-run school in Jabaliya, following the first related incident in less than a week.
The latest deaths bring the death toll to over 90 for the 23rd day of Israeli onslaught on the Palestinian besieged enclave.
The fresh attacks came as Israeli authorities unilaterally announced a four-hour ceasefire.
Also on Wednesday, Israel once again dropped leaflets across the impoverished region, calling on Palestinians living in the besieged territory to leave their homes.
This is while Gazans have no other place to go, as the entire blockaded coastal enclave is targeted. Images and video footage show Palestinians tearing the Israeli leaflets.
The leaflets call on Gaza people to work as informants for Israel and tell the regime of the location of Hamas officials and resistance fighters.
Israel has frequently dropped leaflets in Gaza, urging the Palestinians to flee the territory. But Gazans have turned a blind eye to such moves, which they believe are meant to intimidate them into giving up their land.
Figures show more than 1,300 people have been killed and at least 7,500 more injured in the Israeli attacks on the besieged territory since July 8.
The UN says over 80 percent of the Palestinian fatalities have been civilians, including more than 300 children.
HH/HH