Prime Minister-designate Benjamin Netanyahu has secured the necessary agreements and is ready to present his new government.
"I got it," Israel's longest-serving prime minister announced on Twitter.
Netanyahu placed the call to President Isaac Herzog about an hour before his midnight deadline on Wednesday.
Intense negotiations to amass this coalition dragged on for some 50 days since the Nov. 1 election and 38 days since Netanyahu received the mandate to make the first attempt at forming a government.
Netanyahu now has a week to finalize positions and the new government could be sworn in some time next week. The final date for a new government is Jan. 2.
Legislators in the incoming coalition wanted to pass several controversial pieces of legislation securing their positions in the new government before signing an agreement.
While he has widely completed negotiations with the other party heads, Netanyahu's own Likud members are still unclear who and which positions they will receive.
Along with Likud, the coalition will include Religious Zionism, Jewish Power, Shas, United Torah Judaism and Noam. This amounts to a solid 64-seat majority in the 120-seat Knesset.
Just after midnight, however, a statement published by the Likud showed that two parties – Jewish Power and Noam – had not signed the agreement.
Nicole Jansezian is the news editor for both ALL ISRAEL NEWS and ALL ARAB NEWS and senior correspondent for ALL ISRAEL NEWS