"Iran has launched hundreds of missiles into our territory and on our cities twice, carrying out one of the largest ballistic missile attacks in history," Netanyahu said in his address to the nation.
"No country in the world would allow such an attack on its cities and citizens, and this also applies to the State of Israel," he insisted. "Israel has the duty and right to defend itself and respond to these attacks, and we will do so."
Earlier on Saturday, Israeli Army Radio reported that the IDF was preparing for a serious and major retaliation to Iran's attack, and that it hoped for assistance from partners in the region.
The Times of Israel reported that US Central Command chief General Michael Kurilla arrived in Israel to meet with Israeli defense and military officials amid the IDF's preparations.
On October 1, Iran launched several hundred ballistic missiles toward Israel in retaliation for the killings of Hezbollah chief Hassan Nasrallah, Palestinian movement Hamas political leader Ismail Haniyeh and Islamic Revolutionary Guard Corps (IRGC) senior commander Abbas Nilforoushan.
Iranian President Masoud Pezeshkian said that his government was not seeking a war with Israel but would confront any threat in a resolute manner.
The IDF reported that approximately 180 ballistic missiles were fired, claiming most of them were intercepted.
Israel and the US have threatened consequences for Iran over the missile attack. Iran has vowed to target the interests of pro-Israel countries and US bases in the region if they intervene.