Netanyahu expressed his condolences for families of victims. "If there is anyone who thinks Israel will accept this they are wrong," he told reporters during a short briefing.
Full coverage of terror attacks:
"I have decided on a principle – when you hurt Israeli citizens we respond immediately and with force. This principle was implemented today. The people who gave the orders to murder our citizens and then hid in Gaza are no longer among us."
Netanyahu commended the IDF and Shin Bet for the Gaza strike carried out earlier, which killed six people in Rafah, among them two top leaders of the Popular Resistance Committees.
Meanwhile a number of leaders from around the world condemned the terror attacks.
US Secretary of State Hillary Clinton sent condolences to the families of victims, and called the attacks "brutal and cowardly". She also urged Egyptian leaders to take action.
"This violence only underscores our strong concerns about the security situation in the Sinai Peninsula. Recent commitments by the Egyptian government to address the security situation in the Sinai are important and we urge the Egyptian government to find a lasting resolution," Clinton said.
"The United States and Israel are united in the fight against terror. We hope that those involved in the planning of these gruesome attacks will be brought to swift justice. We stand by Israel as our friend, partner, and ally – now and always."
Israel's ambassador to the UN, Ron Prosor, spoke with UN Secretary-General Ban Ki-moon about the attacks, expressing concern that they may signify a further escalation of violence. Ban also sent his condolences.
German Foreign Minister Guido Westerwelle also condemned the attacks. "At this difficult hour we stand by the side of our Israeli friends. Those responsible must be prosecuted. Terror and violence must not be allowed to torpedo peace and negotiation efforts in the Middle East," he said.
Britain also issued a statement of condemnation, with Foreign Office Minister Alistair Burt calling the attacks "senseless acts of violence.
"As efforts for peace in the region continue, this brutality has no place, nor its perpetrators any excuse. My thoughts and prayers are with those killed and injured and I offer sincere condolences to their families and friends," he said.
Yitzhak Benhorin contributed to this report
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