After the renewal at age 70, drivers will be required to renew their license every five years until age 80 when they'll be required to do so every two years.
The license that will last until age 70 will cost NIS 510, saving drivers NIS 1,500.
Up until Sunday, drivers were required to renew their licenses every ten years, which meant they had to take classes and tests, file paperwork and pay fees.
"I am happy to implement significant decisions in a short period of time that will affect the face of Israeli society in the next decade," said Transportation Minister Miri Regev. "Today we are taking another step to implement an important reform for the public in the field of driver's licenses, which will save every citizen bureaucracy and financial expenses."