"The fact that the Syrian crisis is constantly intensifying was a prime consideration," he explained in a post on his Facebook page.
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"Syria is crumbling, and its massive stockpiles of advanced weapons are starting to fall into the hands of various elements. What we fear most is that terrorist groups will get their hands on chemical weapons."
The prime minister noted that he spent Saturday resting after a busy week that began with the swearing in of his new government and ended with the visit of US President Barack Obama.
"Before the Sabbath, I spoke to the Turkish premier. Three years after Israel-Turkey ties had been cut off I decided it was time to restore them. The changing reality around us requires that we constantly reexamine our relations with countries in the region.
"In the past three years the State of Israel has initiated several attempts to resolve the crisis with Turkey."
Netanyahu explained that the situation in Syria warrants a reevaluation of Israel's relations with Turkey and noted that the presence of Global Jihad terrorists on the Syrian-Israel border in the Golan Heights "creates serious challenges for our defense establishment."
He further noted that Israel is closely monitoring the situation across the border and is ready to respond to any development .
"It’s important that Turkey and Israel, which both share a border with Syria, are able to communicate with each other and this is also relevant to other regional challenges. In addition, the visit of US President Barack Obama and Secretary of State Kerry created an opportunity to end the crisis.
"That is why towards the end of the US president's visit I decided to call the Turkish prime minister on order to solve the crisis and mend the relations between our two nations."
Defense Minister Moshe Ya'alon said that he supports Netanyahu's decision. "The prime minister has made a responsible decision and the settlement he is leading with Turkey does not contradict the fact that we stood our ground for three years," he said in a statement.
"Regional developments and US involvement helped end the crisis. It is a shared interest of both Israel and Turkey." Conversely, former Foreign Minister Avigdor Lieberman slammed the move on Friday calling it a "serious mistake."
Earlier on Saturday, Turkish Prime Minister Recep Tayyip said that Israel's apology "it was offered the way we wanted."
Addressing the restoration of diplomatic ties through the appointment of ambassadors he said, "We will see what will be put into practice during the process. If they move forward in a promising way, we will make our contribution. Then, there would be an exchange of ambassadors."
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