Coalition Chairman MK Zeev Elkin (Likud) filed an official motion for the dissolution of the 18th Knesset on Wednesday.
Likud officials told Ynet that the party will now push for elections on Tuesday, September 4.
The move has garnered the support of Yisrael Beiteinu, Shas and Labor.
Opposition Chairman Shaul Mofaz (Kadima) however, is pushing for Sunday, September 16 as the election day.
So far, three dissolution bills have been put forth, by Meretz, Labor and Elkin.
The early dissolution of the House requires a special majority vote of 61 Knesset members.
Earlier, Knesset Speaker Reuven Rivlin said that bills proposing to dissolve the Knesset will be put to a vote on Monday.
Rivlin said the motions are likely to pass their readings with the government's support.
Accordingly, the Knesset is likely to end its term next week.
A recent poll by Yedioth Arhonoth and the Dahaf Institute, found that if the election were to be held today the Likud would win 30 mandates, giving it a three-seat lead over its current standing.
Kadima would win 10 Knesset seats; Yisrael Beiteinu would get 13 mandates, Yair Lapid's new party would win 11 seats and Labor is likely to win 18 mandates.
The poll further found that Shas is likely to win seven mandates, followed by United Torah Judaism (6), Meretz (5), Arie Deri's (3), National Union (2) and Habayit Hayehudi with two seats.
According to the poll, Ehud Barak's Independence Party is unlikely to pass the electoral threshold.
The Arab parties are expected to collectively win 11 Knesset seats.
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