The Israeli PM, who could face charges including bribery, says the allegations are baseless.
What are the allegations?
One case centres on an allegation that Mr Netanyahu asked the publisher of an Israeli newspaper, Yediot Aharonot, for positive coverage in exchange for help in reining in a rival publication.
Police said the editor of Yediot Aharonot, Arnon Mozes, should also face charges.
The second allegation centres on a claim that Mr Netanyahu, Israeli prime minister since 2009, received gifts worth at least a million shekels ($283,000; £204,000) from Hollywood mogul Arnon Milchan and other supporters.
The Jerusalem Post says the gifts included champagne and cigars, and were given in exchange for help getting Mr Milchan a US visa.