Prime Minister Naftali Bennett and Foreign Minister Yair Lapid on Monday announced their intention to introduce a bill that would dissolve the Knesset.
The two leaders of the coalition conceded that their efforts to salvage the government have failed.
The move will trigger a snap election in September, Israel's fifth in just three years, and Lapid will assume the role of interim prime minister until then.
The two will give a joint statement at 8pm.