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At a meeting with Netanyahu on Thursday, Finance Minister Moshe Kahlon, whose Kulanu party awarded 10 seats to the coalition government, called for a new government.
"The stability required at the present time is not achievable in the current situation, and the responsible act is therefore the establishment of a strong and stable new government", said Kahlon in a statement.
A few hours later, Interior Minister Aryeh Deri joined Kahlon, increasing pressure on the Israeli leader to dissolve the government.
Deri, whose Shas party provides seven seats to the coalition government, said that "for the good of the country, we must agree to go to elections".
After statements by Kahlon and Deri, a spokeswoman for the Foreign Ministry confirmed that Netanyahu had canceled a trip to Austria next week.
The calls follow the resignation of Defense Minister Avigdor Liberman on Wednesday. Right-wing party leader Yisrael Beiteinu said he was opposed to a ceasefire with Gaza that put an end to the worst fighting on the Gaza border since the 2014 war.
Gaza militants fired about 400 rockets at Israel on Monday and Tuesday, while the Israeli army hit more than 100 targets inside the coastal enclave.
Liberman called the cease-fire "capitulation to terror". Hundreds of people demonstrated in Sderot and Ashkelon, cities in southern Israel hit by rocket and mortar fire, demanding that the military deal strike a harder blow to Hamas in Gaza, echoed a call launched by Liberman.
Liberman did not have enough seats on his own to overthrow the government, but his resignation left Netanyahu with a minimum coalition of 61 seats in the Knesset over 120 seats in Israel.
Sensing the right moment, Naftali Bennett, Minister of Education right, also burst. He demanded the defense portfolio or threatened to leave the coalition, which would overthrow Netanyahu's government and impose early elections.
Netanyahu party spokesman said on Wednesday that he was in talks with party leaders to stabilize the coalition. But Thursday morning, it seemed less and less likely.
Netanyahu has already faced coalition crises since the last elections in early 2015, but none as serious as this one. He had repeatedly promised to suspend the government's term until November 2019, but that was a promise that his main coalition partners were not trying to keep.
If coalition parties agree to hold early elections by the end of the month, they are required by law to hold elections within 3 to 5 months. This puts the election window as early as possible in late February or early March.
