Israel's attorney general, Avichai Mandelblit, announced on Thursday that he will charge Prime Minister Benjamin Netanyahu with bribery, fraud and breach of trust.
A hearing session will be held in order to allow Netanyahu to defend himself, the attorney general said in a statement.
Later, Netanyahu dismissed the charges against him, saying that they are aimed at toppling and weakening him ahead of the April 9 general elections.
"The left knows it cannot beat me at the ballot box, so for the past three years they have been carrying out an unprecedented witch hunt which has one aim: to topple the right-wing government which I lead," he said.
"The main thing was to influence the elections, even if we know that this house of cards will completely collapse after the elections."
Netanyahu's main rival in the upcoming elections, former military Chief of Staff Benny Gantz, called on him to resign after the attorney general's announcement.
"Get over yourself and show national responsibility. Resign from your position. If you prove that you are innocent, you can return to the public realm and again lead your movement," Gantz said in an address to Netanyahu.