During a meeting with cabinet ministers on Sunday, Ben-Eliezer stressed that Israel should do "everything possible" to restart dialogue with Palestinians, even if it consists of a settlement freeze for just "a few months."
"I wouldn't be surprised if within one year the whole world supports a Palestinian state, including the United States. Then we'll ask where we were and what we were doing," the senior official said.
The warning comes a day after Ecuador joined four other South American countries to formally recognize Palestine as a free and independent state with 1967 borders.
Earlier this month, Brazil, Argentina, Bolivia and Uruguay had done the same.
Israel has protested the recent recognitions, claiming that the move is against the spirit of the Mideast talks.
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