The Israeli Declaration of Independence (Hebrew: הכרזת העצמאות, Hakhrazat HaAtzma'ut or Hebrew: מגילת העצמאות Megilat HaAtzma'ut), was made on 14 May 1948 (5 Iyar 5708), the day before the British Mandate was due to expire. David Ben-Gurion, the Executive Head of the World Zionist Organization and the chairman of the Jewish Agency for Palestine, declared the establishment of a Jewish state in Eretz-Israel, to be known as the State of Israel.
The event is celebrated annually in Israel with a national holiday Yom Ha'atzmaut (Hebrew: יום העצמאות, lit. Independence Day) on 5 Iyar of every year according to the Hebrew calendar.
Read more about Israeli Declaration Of Independence: Background, Declaration Ceremony, Aftermath, Status in Israeli Law, The Scroll, Context and Content
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