Israeli Prime Minister Ehud Olmert was to be attacked during a trip to Jericho in August, the media reports say.
The plot -- described at an Israeli cabinet meeting Sunday morning -- was foiled after Israeli security services passed on the identities of the militants to the Palestinian Authority, the Israeli daily newspaper Haaretz reported.
However, the alleged plotters -- all from Fatah, the Party loyal to Palestinian President Mahmoud Abbas -- have been released, despite admitting to the plot, the newspaper said, citing an Israeli official.
But a spokesman for Tawfiq Tirawi, the head of Palestinian security services in the West Bank, told CNN the men were still in custody and being interrogated.
The suspected plot was set to coincide with a trip by Olmert to meet with Abbas in Jericho on August 6, Haaretz reported.
Word of the foiled plot came to light Sunday morning when Yuval Diskin, head of Israel's domestic Shin Bet security service, gave details during a weekly meeting of the Israeli cabinet.
According to the newspaper, Diskin told the meeting that the militants were planning to intercept Olmert's convoy as it approached the entrance to Jericho. There were no specific details of how they planned to attack the Israeli leader.
Diskin said several suspects were arrested by the Palestinians after a tip-off from the intelligence services, and other members of the cell were arrested by Israeli security forces.
A senior political source in Jerusalem told Haaretz that Israel was incensed by reports that the suspects had been freed last week. The source said Olmert had lodged a complaint with President Abbas.
When contacted by CNN, a spokeswoman for the Israeli prime minister declined to comment on the reports
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Magal
Acesse
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