"He's acting like (Turkish President) Erdogan, lying to us. He's drunk with power," said Shai Alon, the head of the Beit El council.
The settlers erected a protest tent at the Wohl Rose Park in Jerusalem and plan to hold a protest rally on Monday evening with ministers and MKs.
The protesting settlers claimed Netanyahu had lied to them twice: When homes in the settlement's Ulpana neighborhood were evacuated in 2012 and after the demolition of two buildings, known as the Draynoff buildings, in 2015.
The prime minister, they said, promised to build 300 housing units in the settlement in the wake of both evacuations, but has yet to follow through on that promise.
"I hate being lied to," Alon added. "Netanyahu promised everywhere he went to build 300 homes in Beit El. Where are these homes? We haven't received any answers. We don't get told why there are no apartments being marketed in Beit El. When I talk to Netanyahu, he leads me on."
The settlers posted a video online in which they attack the prime minister. Among other things, the video features a clip from a speech Netanyahu made five years ago, in which he promised to build 300 homes in the settlement.
Alon claimed there are right-wing politicians who are afraid to speak their mind to Netanyahu. "Not everyone tells the truth. They're afraid to attack Netanyahu because then they'll lose funding. They don't understand we're stuck."
The council head said he would stay in the protest test until the promised 300 homes are marketed.
"We're preparing a petition to the High Court of Justice against the state because a signed agreement with us has been breached," he said.
Alon explained that the fact no new homes are being marketed in Beit El affects life in the settlement. "I open fewer classrooms and close down kindergartens. I have no solution for young couples who live in 150 caravans."