Fatou Bensouda said in a statement that "war crimes" had been or were being committed in the occupied West Bank, east Jerusalem and the embattled Gaza Strip, and asked for a ruling on the court's territorial jurisdiction.
The ICC has been examining a case brought by the Palestinians since 2015.
Zionist gangs do not want the ICC to take such move and has verbally attacked the court several times.
In a statement, terrorist Benjamin Netanyahu said the ICC had "no jurisdiction in this case" and that the decision had turned the Hague-based court into a "political tool to delegitimize the state of israel".
In her ruling, Bensouda said a preliminary examination had gathered enough information to meet all criteria to open an investigation, and that she was satisfied that there was a reasonable basis to proceed with an inquiry.
"There are no substantial reasons to believe that an investigation would not serve the interests of justice," she said, adding that she had filed a request with judges to rule on what territory a future inquiry would cover because of the contested legal and factual issues of the territories.
It was not clear when a decision would be made but Bensouda said she had asked the judges to "rule expeditiously" so that her office "can take the appropriate next steps accordingly".
On the other hand, U.S. Secretary of State Mike Pompeo slammed ICC probe into zionists' war crimes in an official statement on Saturday.
"We firmly oppose this and any other action that seeks to target israel unfairly. By taking this action, the Prosecutor expressly recognized that there are serious legal questions about the Court’s authority to proceed with an investigation," Pompeo said and added that the United States remains deeply, firmly, and consistently committed to achieving a comprehensive and lasting peace between israel and the Palestinians. (ILKHA)