On Tuesday, Israel held general elections, which resulted in a victory for the right-wing Likud party led by incumbent Prime Minister Benjamin Netanyahu.
"The EU is committed to working with the incoming Israeli government on a mutually beneficial relationship as well as on the re-launch of the peace process," Mogherini said in a statement posted on the European Union website.
Palestinians seek to create an independent state on Israel-occupied territories, including the West Bank and the Gaza Strip.
Israel has continued building settlements on the occupied territories and maintains that premature recognition of a sovereign Palestinian state would undermine peace.
The peace process between Israel and the Palestinian Authority has been mediated by the Middle East Quartet, comprising the United Nations, Russia, the United States and the European Union. However, the Quartet, established in 2002, has so far failed to mediate a long-term peace agreement.
Netanyahu vowed on Monday that if he was re-elected as prime minister Israel would continue its settlement activities in East Jerusalem. He also said there would be "no Palestinian state."
