Legislative elections were held in Israel on 2 March 2020 to elect members of the twenty-third Knesset. The result was initially a stalemate, which was resolved when Likud and Blue & White reached a coalition agreement. Under the terms of the agreement, the premiership would rotate between Benjamin Netanyahu and Benny Gantz, with Gantz given the new position of Alternate Prime Minister until November 2021. These elections followed the continued political deadlock after the April and September 2019 Knesset elections.

The extended period of political deadlock that led up to the election was the result of close races in April and September 2019 that left both incumbent Prime Minister Benjamin Netanyahu and opposition favorite Benny Gantz unable to muster a 61-seat governing majority, in coalition with their respective blocs of smaller, ideologically allied parties.

As a result, Netanyahu and Gantz agreed in principle that the only solution was a national unity government between Netanyahu's Likud and Gantz's Blue and White parties. However, substantial disagreements over the terms of such a government prevented one from being formed, as Netanyahu demanded the inclusion of his allied right-wing, religious parties, and Gantz refused to cooperate with a Netanyahu-led Likud as long as he was under indictment for alleged bribery and fraud.

Orly Adas, director of the Central Elections Committee, cautioned that she lacked the necessary funding and staff to conduct a third election, and President Reuven Rivlin stressed his desire to avoid calling one, repeatedly expressing his dismay at the failure to form a unity government. Nevertheless, as required by the Basic Law, he initiated on 21 November 2019 a 21-day period in which any member of the Knesset (MK) who received the support of 60 of their fellow lawmakers was allowed to try to form a government. After no MKs succeeded at this task by 11 December, Rivlin was forced to call the new election.

The 120 seats in the Knesset are elected by closed list proportional representation in a single nationwide constituency. The electoral threshold for the election is 3.25%. In most cases, this implies a minimum party size of four seats, but it is mathematically possible for a party to pass the electoral threshold and have only three seats (since 3.25% of 120 members = 3.9 members).

Two parties can sign an agreement that allows them to compete for leftover seats as though they are running together on the same list. The Bader–Ofer method disproportionately favors larger lists, meaning that such an alliance is more likely to receive leftover seats than both of its comprising lists would be individually. If the alliance receives leftover seats, the Bader–Ofer calculation is then applied privately, to determine how the seats are divided among the two allied lists. The following agreements were signed by parties prior to the election:

With the deadline to form a government ending at 11 December at midnight, elections called 90 days later should have been held on 10 March. However, as that date would have conflicted with the Jewish holiday of Purim, the election would have to be held either one week earlier on 3 March, or one week later on 17 March. A Knesset bill was required to be passed to allow the election date to be moved up to earlier in March. The date of 3 March conflicted with Israeli memorial day, so Likud pushed for an election date of 16 March, while Blue and White wanted an election held on 2 March. The two parties agreed to hold elections on 2 March 2020, and the required Knesset votes took place on 11 and 12 December to ratify 2 March.

At the end of the 22nd Knesset, there were ten factions in parliament.