Reuven Rivlin elected Israel's president

Last month, Netanyahu floated a trial balloon on the future of the presidency, ordering his advisers to sound out cabinet colleagues on suspending the vote and evaluating the need for the position, political sources said.

Some political analysts suggested that Netanyahu was concerned that a victory by Rivlin, who once publicly accused the prime minister of showing disrespect to parliament, could make him more vulnerable in a future general election.

No single party has ever won an outright majority in a national vote. That makes the president - whose duties otherwise carry little power - a key player in coalition-building.

Congratulating Rivlin at the Knesset ceremony, Netanyahu cited their common history in right-wing politics.

"I know you will do your utmost as president to meet the two-fold mission of unifying the nation and showing unity in the face of external challenges," Netanyahu said. "I promise, as a prime minister from a similar background, to work with you."

Born in Jerusalem, Rivlin, a former communications minister, is married and a father of four. A lawyer by profession, he is an avid soccer fan and a vegetarian.

The campaign for the election of Israel's 10th president was marred by rumours of foul play and mudslinging.

One leading candidate, veteran Labour politician Binyamin Ben-Eliezer, pulled out of the race on Saturday after police questioned him about alleged financial malpractice.

Ben-Eliezer denied any wrongdoing and said he had been "deliberately targeted" by enemies out to sabotage his bid.

Peres, an internationally respected statesman, restored prestige to the post after he was elected in 2007 to replace Moshe Katsav, who was convicted of rape in 2010 and is serving a seven-year prison term.