Israeli President Isaac Herzog has said he will announce on Sunday whom he will task with trying to form a new government, following post-election talks with all party leaders.

"I intend to task a member of Knesset (parliament) with forming the government this coming Sunday," Herzog said in a video message on Thursday, noting that 46 parliament members recommended Prime Minister Benjamin Netanyahu, while 67 backed his opponent Gadi Eisenkot.

Seven lawmakers abstained.

Also on Thursday, Israel's largest Arab list said it would back Eisenkot to form the next government, bolstering his chances of being picked over Netanyahu, who lost the support of an allied religious party.

President Herzog held a second day of consultations with political parties after the October 27 election, in which neither Netanyahu — a polarising right-winger who has led Israel through three years of genocide in Gaza — nor Eisenkot — a former military chief — secured enough votes for a majority.

Herzog will choose by himself whom to ask to form a new government, but traditionally the mandate is given to the person recommended by more parties, which would be Eisenkot.

Arab-majority lists won an unprecedented 19 seats in the election, making them potential kingmakers if Eisenkot's opposition chooses to work with them — something which remains unclear.

Both Arab lists on Thursday said they were backing Eisenkot.

The Joint List, which bagged 11 seats, said in a statement that "it will inform the President of the State, Isaac Herzog, this evening of its decision to recommend that Gadi Eisenkot be tasked with forming the government".

Raam, which won eight seats, also endorsed Eisenkot.