Exit polls show that the right- wing union led by incumbent Prime Minister Benjamin Netanyahu has gained a narrow lead in the country's early parliamentary elections.
The polls showed the Likud-Beitenu joint list is set to receive 31 seats in the 120-member unicameral parliament.
The newly-established centrist Yesh Atid, or There is a Future Party are running a surprisingly second.
The left Labor party, which opinion polls have predicted would become the second largest party in the new legislature, was ranked third.
The results may change as vote counting is continues throughout the night.
As Barack Obama was sworn in for a second term as the US president, China-US relations have been at the top of the agenda at a forum in Beijing.
American studies expert Tao Wenzhao is optimistic about Sino-US relations during Obama's 2nd term.
"China's development is not alone. Many countries are emerging as powers. Time is different now. China and the US are interdependent economically, with bilateral trade volume reaching 500 billion US dollars, an 8 percent year-on-year growth. Even though China is facing some problems with neighboring countries, there's no change in China's independent foreign policy of peace."
Meanwhile, Professor Zhu Feng with Peking University says it is important for Chinese people to have a right attitude towards Americans.
"We are changing in Americans' eyes, especially our mentality. When they read Global Times, they feel that we are ready to challenge them. It is not easy for us to play second fiddle. We should keep our position with a right attitude."
China and U.S. relations are facing tensions recently over the disputed territorial issue with Japan.
U.S. Secretary of State Hillary Clinton claimed last week that the Islands are under the administrative authority of Japan, and therefore the U.S.-Japan Security Treaty applies to it.
Chinese Foreign Ministry refuted Clinton's comments as regardless of facts, calling on the US to adopt a more responsible attitude toward the issue.
Foreign Ministry spokesman Hong Lei is calling for Washington and Beijing to maintain the good momentum to push forward bilateral relations, strengthening dialogue and communication, as well as boosting trust and cooperation.