Israeli Occupation lawmakers dissolved parliament on Thursday, forcing the country's fifth election in less than four years, with Foreign Minister Yair Lapid set to take over as caretaker prime minister at midnight.

The final dissolution bill, which passed with 92 votes in favor and none against, ends the year-long premiership of Naftali Bennett, who led an eight-party coalition that was backed by an Arab party, a first in Israeli Occupation history.

Following the vote, Lapid and Bennett immediately swapped seats in the parliament -- the Knesset -- and Lapid was embraced by members of his centrist Yesh Atid (There is a Future) party.

Bennett said late Wednesday that he will not stand in the upcoming election set for November 1, which will see veteran right-wing opposition leader Benjamin Netanyahu attempt to reclaim power.

Netanyahu has promised that his alliance of right-wingers, ultra-nationalists and ultra-Orthodox Jewish parties will win the upcoming vote, but opinion polls show he may also struggle to rally a parliamentary majority.

Bennett will host Lapid for a handover ceremony later Thursday, the prime minister's office said.

The outgoing premier will also hand the leadership of his religious nationalist Yamina party to his long-time political ally, Interior Minister Ayelet Shaked.