Turkey-Israel relations, starting with Turkey's recognition of Israel as a sovereign state in 1949, have gained momentum since the early 1990s despite being fluctuant because of Israel’s policies negatively affecting peace and stability in the Middle East. During the 1990s, the two countries’ relations developed rapidly with a series of agreements, especially signed in 1996, and since then the relations have been multidimensional, including military, diplomatic, political, economic, and intelligence. In the following years, especially in the 2000s economic relations have increased remarkably. It is observed that the economic relations established between the two countries continue to be influenced by the political crises, notwithstanding the various political tensions between Turkey and Israel, especially after 2010 and onwards. The study dwells on the economy as an unchanging dynamic in the 1990s, when Turkey was in a strong strategic alliance with Israel, and in the 2000s when Turkey was experiencing some political crises with Israeli government. In this context, it is revealed that the determinations of economic rationality in Turkey-Israel relations are preliminary in every period and that the developments in trade and direct investment relations between the two countries continue to be effective in their own course independent of the fluctuations in the political conjuncture.