"With 93 percent of the votes counted, 'Blue and White' took a lead over Likud with 32 seats against 31," the committee announced its official preliminary results.
The ICEC added that an alliance of four Arab parties, the so-called Joint List, has received 13 seats in the Knesset election, followed by the ultra-Orthodox Shas party and Yisrael Beiteinu, both receiving nine seats in the parliament.
On Tuesday, Israel held a snap general election to its 120-seat unicameral parliament, the Knesset. According to the country's Central Elections Committee, the turnout in the snap general election had reached 53.5 percent by 6 pm (20:00 GMT).
During the previous Israeli elections held in April, main political rivals - Likud and Blue and White won 35 seats each, while Benjamin Netanyahu failed to form a coalition government prompting the first in the country snap elections.
The Israeli parliament, Knesset, comprises 120 seats. The electoral process is made up of two components: first, people vote for the party of their choice via secret ballot in a single nationwide electoral district, after that each party receives a number of seats proportional to the votes it gained. The minimum vote threshold to win a seat is 3.25 percent, and 61 seats are required to form a majority government.