Can an Israeli arbitral award be appealed?

Only on very limited grounds. Under the Arbitration Law 1968, a party can apply to the court to set aside an arbitral award on grounds such as the arbitrator exceeding their authority, a fundamental procedural failure, or the award being contrary to public policy. Courts do not review the merits of the arbitrator's decision — if the arbitrator reached a conclusion a court would have decided differently, that is not a ground for setting aside the award. This finality is one of arbitration's main advantages and main risks.