Culture Secretary Maria Miller has told the BBC she hopes a cross-party "solution" on press regulation reform is possible within the next 24 hours.
She said there had been "compromise on both sides to make sure Leveson's report... works in practice".
MPs are due to vote on the terms of a new press watchdog set up by royal charter on Monday. The vote is expected to be close, with David Cameron facing possible defeat.
Previous talks broke down on Thursday.
Earlier on Sunday, Chancellor George Osborne and Labour's Harriet Harman both told the BBC they hoped the parties could reach a deal on the key elements of a new regulator before Monday's vote.
And Harry Potter author JK Rowling - who gave evidence to the Leveson Inquiry about press intrusion into her family's privacy - said victims were being "hung out to dry" over the reforms, urging MPs to "have the courage" to protect them.
Lord Justice Leveson's inquiry into press ethics was sparked by revelations of the illegal practice of phone hacking by journalists, which let to the closure of the News of the World in 2011.
The inquiry found newspapers had "wreaked havoc with the lives of innocent people" under the existing regime of self-regulation, and called for a new, independent regulator backed by legislation - something that has prompted months of political wrangling.
'Compromise on both sides'Speaking to the BBC on Sunday evening, Ms Miller said it was important that Labour was "very clear on the problems with their previous recommendations with regards to statutory underpinning" of a new watchdog.
She stressed her party was not prepared to see "statutory regulation of the press" because of the "chilling effect" it would have on journalism.
Ms Miller added: "I hope the discussions we have over the next 24 hours can really make sure we can come together and have a real solution here.
"I think there's been compromise on both sides to make sure that we take the Leveson Report, which was never a blueprint for the regulation of the press, and make sure it works in practice.
"One of the important things to do is to have the debate in Parliament."
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