Gallant, who was a longtime rival from within the Likud Party, will be replaced by Israel's Foreign Minister Israel Katz. Minister without Portfolio Gideon Sa'ar will replace Katz, as per Times of Israel.
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.
The two opposition leaders expressed their willingness, but Lapid demanded far-right leaders and ministers, Bezalel Smotrich and Itamar Ben-Gvir, be removed. Gantz agreed to join alongside the two, the report said.
Out of 120 members of the Knesset (Israeli parliament), Netanyahu has the support of 64 members
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.
The opinion piece added that the party combines the most striking principles of three major political entities in the world -- the Likud Party of Israel, the Communist Party of China and the Muslim Brotherhood of Egypt.
Israel's President Isaac Herzog on Monday appealed to Prime Minister Benjamin Netanyahu to immediately halt his controversial judicial overhaul, warning that the move has put the country's security, economy and society under threat.
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.
'In light of the events in Israel, Foreign Minister Cohen decided to cut short his diplomatic visit to India and return to Israel after the meeting with Indian Prime Minister Narendra Modi that will take place today'
Informed sources said Netanyahu spoke to Prime Minister Modi earlier on Tuesday and both of them agreed to cancel their scheduled meeting in New Delhi on September 9 due to the repeat polls in Israel on September 17.
The Central Election Committee (CEC) said that Blue and White party seemed to be taking a lead over Likud after 91 per cent votes were counted.
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.
Netanyahu's right-wing Likud party has claimed a stunning victory in the election.
The prime minister has denied all the allegations, saying they are part of a politically orchestrated "witch-hunt" to oust him from office.
Israeli Prime Minister Benjamin Netanyahu on Monday blamed Iran and its "protege" Hezbollah of carrying out the twin bomb attacks on Israeli diplomats in India and Georgia, accusing Tehran of being the "world's largest terror exporter".
In a setback to the fragile Middle East peace process, Israel's general elections threw up an inconclusive mandate on Wednesday, with both the centrists and the rightists claiming victory and a hawkish anti-Arab leader emerging as the possible kingmaker.
Israelis began voting on Tuesday in a general election following a high-pitched campaign
With nearly 95 per cent of votes counted Thursday, Gantz's Blue and White party stood at 33 seats in Israel's 120-seat Parliament. Netanyahu's Likud stood at 32 seats.
The wife of a senior Israeli politician sparked a row after she posted a racially charged joke about US President Barack Obama on Twitter wherein she referred to him as "black and weak".
Israeli Prime Minister Benjamin Netanyahu has clinched an 11th-hour deal with a right-wing party to form a hardline coalition government that could pose a major challenge to any global initiative to break the logjam in peace talks with the Palestinians.
Former Israeli prime minister Ariel Sharon died on Saturday at a hospital near Tel Aviv after being in a comatose state for the past eight years following a stroke. He was 85.
Israel on Tuesday accepted an Egyptian-proposed ceasefire plan to halt its deadly offensive on the Hamas-ruled Gaza Strip but the Palestinian militant groups rejected it calling it "surrender", even as the death toll in the nine-day long conflict rose to 192.
Israeli foreign minister Avigdor Lieberman today snapped a 20-month political alliance with Prime Minister Benjamin Natanyahu, the first fallout of a simmering discontent over the fractious ruling coalition's response to frequent attacks by Palestinian Hamas militants.
Israel on Tuesday resumed air strikes on Gaza after an Egyptian-brokered ceasefire failed to stop the escalating violence that has killed 192 Palestinians in nine days of fighting as Hamas continued to fire rockets at the Jewish state.
'Like it or not, the Congress is still the only party with the potential to challenge the BJP at a pan-Indian level,' says T V R Shenoy.
Israeli jets on Tuesday pounded 50 Hamas targets on the Gaza Strip injuring at least 17 Palestinians as part of a military offensive code-named 'Protective Edge' after a barrage of rockets hit southern Israel amid escalating tensions in the region.
We take a look at Time magazines top world leaders.
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