Reports indicated that Netanyahu told Herzog in a phone call that he now has enough seats to build a majority in the 120-member legislature.
Shortly after all was said and done, Netanyahu took to Twitter to share a brief video clip of the phone conversation.
“I wanted to announce to you that thanks to the amazing public support we received in the elections, I have succeeded in forming a government that will take care of all the citizens of Israel,” Netanyahu said.
The media cited sources close to Herzog and Netanyahu as saying that the swearing-in ceremony of the new cabinet will take place no later than January 2, with December 27 or 28 being a likely date for the ceremony.
20 December 2022, 21:15 GMT
Netanyahu, whose party won in the early parliamentary elections on November 1, received the mandate to form the country's new government from the president on November 13.
The mandate was due to expire on December 11, but Herzog extended it by ten days until December 21. The announcement reportedly came some 11 minutes before deadline.
Netanyahu served as Israel's prime minister from 1996 to 1999, and again from 2009 to 2021.