The two powers have reached preliminary agreement on the subject on 18 December 2015.
Several years ago Turkey chose to oppose Israel in order to gain legitimacy in the Muslim world to be better positioned to spread its influence there – the same reason why Iran is opposing Israel since the Islamic Revolution in 1979.
Now, however, Turkey finds itself embroiled in the fierce confrontation in Syria against Iran and Russia. As a result, Turkey improved its relations with Saudi Arabia and its Arab allies, who also find themselves engaged in geopolitical struggle against Iran. Normalization of relations with Israel (at least, for the time being) is the next logical step for Turkey.