One of the specific objectives of the United States President Joe Biden’s Middle East visit, in July 2022, was the intent of Saudi Arabia normalization of diplomatic relations with Israel. However, this was largely unachieved despite the fact that Israel and Saudi Arabia had long been in secret cooperation, without formal diplomatic relations between them, since Israel attained nationhood in 1948. This article sought to examine the concrete barriers to normalization of relations, extolling cooperation and disentangling the cyclic ambivalences of Saudi government towards Israel. Certain barriers could be removed, aimed at strengthening normal peaceful co-existence between the two countries. The neorealist and neoliberal theoretical perspectives are adopted as framework of analysis. Data were derived from both primary and secondary sources, made up of interview, government official documents and independent mediascape. Findings showed that the Israeli-Palestinian conflict remained the concrete barrier to normalized Saudi-Israeli relations. But areas of cooperation between the two countries, albeit covertly, include trade and common stance against security concerns. These and other areas of cooperation could be broadened to strengthen peaceful co-existence between the two neighbours. And more determined diplomatic efforts must continue, to resolve the generational and intractable Israeli-Palestinian conflict on ‘two-state’ solution basis. In conclusion, the ambivalences that have characterized relations between Israel and Saudi Arabia need be discarded. A Palestinian statehood is attainable, with rights of mutual co-existence between the parties and removing nuclear threat and need for balance of power, all necessary to make the Middle East relatively stable and peaceful.