After a surprise election victory, Netanyahu was on March 25 tasked by President Reuven Rivlin with forming the next government and given four weeks to do so.
With the deadline fast approaching, the Israeli leader was to formally request an extension of up to two weeks at a working meeting with Rivlin on Monday morning, the president's office said in a statement.
"At the conclusion of the meeting, the prime minister will request an extension of the time allocated to him to form the new governing coalition," a statement said.
If he still cannot form a coalition, Rivlin can assign another party leader to the task - again with a 28-day deadline.
If that fails, he can select a third person who has just 14 days to complete the task. If that does not work, the president calls a new election.
Despite nearly four weeks of intensive negotiations, Netanyahu has not yet managed to reach agreement on the government he was hoping to form - which would comprise six rightwing and religious parties and have a majority of 67 in the 120-seat parliament.
But as the talks have dragged on, there has been increasing talk about him turning to the centre-left Zionist Union to form a national unity government, although its leader, Isaac Herzog, has denied reports of a secret meeting with Netanyahu, scotching rumours of a deal.
"I said after the election results came in that we were headed to the opposition. That's not by default. That is our preference," he said late Saturday in remarks widely picked up by the Israeli press.
The coalition will have to hit the ground running in order to shore up shattered ties with the administration of US President Barack Obama and address divisions at home.
It will also have to handle an emerging nuclear deal with Iran, vehemently opposed by Netanyahu, as well as the imminent threat of Palestinian legal action at the International Criminal Court.
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