Housing and Construction Minister Ze'ev Elkin battled Chess Grandmaster Garry Kasparov during an event in Jerusalem on Sunday.
The match lasted about an hour, with the former World Champion taking the win after a decisive final move.
"I've fulfilled a childhood dream and played against my hero and a chess world champion, from whom I've learned to love the game," Elkin said after the match. "Doubly exciting to play the oldest game in the world in one of the oldest cities in the world."
Kasparov arrived in Israel this week to take part in an innovation conference hosted by business development firm IMPROVATE.
Joining him are former British prime minister Tony Blair, businessman Mikhail Khodorkovsky and the musician will.i.am — whose Black Eye Peas group will perform during the event.
Other politicians-turned-businessmen set to take part are the former Romanian president Victor Ponta, former Bulgarian president Rosen Plevneliev, former Montonegrian president Filip Vujanović and former Belgian prime minister Yves Leterme.
Upon hearing that the Grandmaster will arrive in Jerusalem, Elkin decided to challenge him for a game.
The minister is known for his fondness of the game and even promoted initiatives and projects to encourage and develop it in Israel — earning him the nickname "the Knesset chess player".