Netanyahu, who has won the backing of 64 Members of the Knesset (Israeli Parliament), has been assigned the task to form the next government, a statement from the Presidency said.
President Herzog said that he will assign the task to form a new government to Netanyahu, 73, following consultations with leaders of all the political parties that have been elected to Parliament.
Former Prime Minister Benjamin Netanyahu led right-wing bloc has secured an emphatic victory in Israel's general elections by claiming 64 out of the 120 seats in parliament, bringing the country's longest-serving premier back at the helm after a brief gap and also ending prolonged political instability.
With 99 per cent of the ballots counted, Netanyahu-led right-wing bloc has taken a comfortable lead with 64 seats in the 120-member Knesset, paving way for his triumphant return.
Bennett and Lapid, in a joint statement, said that they had "exhausted options to stabilise" their coalition which has recently come under severe strain over unruly members threatening to dump it.
During the meeting, Gantz emphasised the opportunity to invest further in defence cooperation between the two countries.
A veteran journalist working for Al Jazeera was killed on Wednesday during an Israeli operation in the West Bank city of Jenin, prompting the Palestinian Authority (PA) and the Qatar-based network to blame the Israeli Army for her death.
An undeterred Chief Executive Officer of NSO Group, Shalev Hulio, in an interview to Israeli Channel 12 on Saturday, strongly defended the company's operations, though he also conceded that some 'mistakes' may have happened over the years.
Describing the opportunities of collaboration between the two countries as 'endless', Bennett, in a special video message released on Saturday evening, stressed that 'the ties between Israel and India are strong and together they will only grow stronger', as the two nations celebrated 30 years of establishment of diplomatic relations.
External affairs minister S Jaishankar on Wednesday unveiled a plaque at Ra'anana in northern Israel in the memory of Indian soldiers who laid down their lives in the battle of Tabsor during World War I.
Representatives of several bodies visited the office of NSO to assess the allegations raised in regards to the company on Wednesday, a spokesperson for Israel's Ministry of Defence said.
The alleged use of the Pegasus software to spy on journalists, human rights defenders, politicians and others in a number of countries including India triggered concerns over issues relating to privacy.
Israel's newly elected Prime Minister Naftali Bennett said on Monday that he was looking forward to working with his Indian counterpart Narendra Modi to further develop the 'unique and warm relations' between the two democracies.
Israel's parliament is set to vote on Sunday on a new government led by Yamina head Naftali Bennett, ousting Prime Minister Benjamin Netanyahu from power after an uninterrupted 12 years at the helm of affairs.
Israel could be headed for a break from the 'Bibi-regime' as several former allies of longest-serving Prime Minister Benjamin Netanyahu seem to have joined hands with political opponents to form a national-unity government that would not only have political formations from the Left, the Centre and the Right, but may also be supported by an Arab party.
Soumya Santosh worked as a caregiver attending to an old woman at a house in the southern Israeli coastal city of Ashkelon.
The mass gathering was organised to celebrate the Lag B'Omer holiday at Mount Meron.
In his conversation with Netanyahu over phone, Modi assured him that India accords the highest importance to the safety and security of Israeli diplomats and premises, a PMO statement said.
Israeli Prime Minister Benjamin Netanyahu on Friday expressed 'full confidence' in the Indian authorities in ensuring the safety of Israelis and Jews in India following a blast close to the country's embassy in New Delhi.
The MRSAM is an advanced path-breaking air and missile defence system that provides ultimate protection against a variety of aerial platforms. Defence experts say that it can shoot down enemy aircraft at a range of 50-70 km.
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