The Quartet of Middle East mediators has released a statement urging Israelis and Palestinians to return to direct talks within one month.
The Quartet - the UN, Russia, European Union, and the United States - acted after Palestinian leader Mahmoud Abbas formally asked the UN to recognize a Palestinian state.
Direct talks between Israel and the Palestinians broke off in September last year.
Quartet statement
"Within a month there will be a preparatory meeting between the parties to agree an agenda and method of proceeding in the negotiation," the Quartet said in the statement.
"At that meeting there will be a commitment by both sides that the objective of any negotiation is to reach an agreement within a timeframe agreed to by the parties but not longer than the end of 2012."
The negotiators expect both Israel and the Palestinians to produce "comprehensive proposals within three months on territory and security," and achieve "substantial progress within six months."
An international conference to review progress will then be held in Moscow "at the appropriate time," followed by a donors' conference designed to give "full and sustained support" to the Palestinians' state-building actions.
Israeli and Palestinian leaders are said to be studying the proposals.
The Palestinians currently have permanent observer status at the UN.
Abbas submitted a formal request for Palestinian statehood at UN headquarters in New York on Friday.
Addressing the General Assembly, Abbas said he was seeking recognition on pre-1967 borders.
"The time has come for my courageous and proud people, after decades of displacement and colonial occupation and ceaseless suffering, to live like other peoples of the earth, free in a sovereign and independent homeland," the Palestinian leader said in an impassioned speech that was greeted with extended applause.
Israeli premier Netanyahu said a future Palestinian state could only be achieved through talks with Israel.
"The Palestinians should first make peace with Israel and then get their state," he said in his speech at the General Assembly.
The Organization of the Islamic Cooperation - a gathering of Islamic countries - has adopted a resolution backing the Palestinians' UN statehood plans.
