To close the ring, Israel needs to fence the border with Jordan, where the construction has been in place since last year.
"After all, Israel, as I see it, is surrounded by a safety fence from all sides. In the environment in which we live, we have to protect ourselves from predators," Netanyahu said.
Israel already protects its borders with Lebanon, Syria, Egypt, the Gaza Strip, and partly with the West Bank.
The long-term program for the construction of the security fence along all the borders in the country "costs many billions of shekels, these are long-term costs, but this program is due to be implemented for the sake of Israel's security," Netanyahu added.
The Israeli prime minister announced plans to build a security fence along the border with Jordan a few years ago, but the construction was delayed over the necessity to build a wall in the Golan Heights on the Syrian border to prevent migration from the war-torn country.
In September, Netanyahu vowed to fence the country off completely from war-torn neighbor nations to prevent undocumented migrants from entering, after the opposition had urged him to give shelter to Syrian refugees.