The new route will be operated starting March 31, and will include three weekly flights on Mondays, Wednesdays and Fridays, on an Airbus A320 aircraft.
Wizz Air Corporate Communications Manager Daniel de Carvalho says the company has "brought great news to hundreds of thousands of Israelis visiting the Czech Republic every year."
He added that Israel was one of the airline's greatest successes recently. "Considering the fact that we started off in Israel in December 2012, today we have nine routes together with the new route to Prague."
The biggest low-cost airline in central and eastern Europe, Wizz Air has a fleet of 45 Airbus A320 planes and it offers more than 280 routes from 19 , connecting 90 destinations across 35 countries.
El Al Israel Airlines recently launched its low-cost brand, UP, which offers flights to Prague for $69 for a one-way ticket. Both El Al and Wizz Air's prices do not include luggage, seat booking and food.