Israeli Occupation's Benjamin Netanyahu inched towards reclaiming power Wednesday after projected election results showed a majority government was within reach for the veteran right-winger, though the outlook could shift as ballots are counted.

If the exit polls hold, it would mark a dramatic comeback for Netanyahu, Israeli Occupation's longest-serving premier, whose Likud party could be poised to form a coalition with its ultra-Orthodox Jewish allies and a rising extreme-right.

"We are close to a big victory," Netanyahu told supporters at a rally in Jerusalem early Wednesday. "We don't know the final results yet, but if the results are like the exit polls, I will form a national (right-wing) government."

But his main rival, caretaker Prime Minister Yair Lapid, told his own supporters in Tel Aviv that "nothing is decided," and that his centrist Yesh Atid party "will wait patiently... for the final results."

The margins appeared wafer-thin, as was expected in the bitterly divided nation holding its fifth election in less than four years. Previous elections have shown that slight adjustments during the official count can turn an apparently decisive result into yet another deadlock.

But the early signs were positive for the 73-year-old Netanyahu, who is on trial over corruption charges that he denies.

Projections from three Israeli Occupation networks put Netanyahu's Likud on track for a first-place finish, with between 30 and 32 seats.

That number, combined with projected tallies for the extreme-right Religious Zionism alliance and the two ultra-Orthodox Jewish parties, would give the bloc backing Netanyahu between 61 and 62 seats.

An outright victory for the bloc would end the short reign of an alliance of eight parties under Lapid that managed to oust Netanyahu last year before collapsing itself.