Top IDF officials have recently travelled to the US and reached a preliminary agreement on the deal, which includes gear used during US engagements in Iraq and Afghanistan.
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Defense establishment sources noted Saturday that the purchase is worthwhile for Israel, as the payment for the gear would be taken out of the military aid provided by the US to the Jewish state.
If the deal goes through, the reportedly low-mileage Hummers and trucks will arrive in Israel and undergo testing before being stored away in the IDF's emergency warehouses.
The US pulled out its last convoy of troops from Iraq in December, and has set an aggressive timetable for withdrawing its forces from Afghanistan has well.
The IDF said on Thursday that it is gearing up towards a joint missile defense drill with US. Both nations said the exercise is expected to be the largest of its kind so far. While the maneuver's date is yet to be announced, a senior IDF official said it is to take place within the next few weeks.