White House National Security Advisor Jake Sullivan is scheduled to head to Saudi Arabia for a meeting with Crown Prince Mohammad bin Salman (MBS) on Thursday regarding a potential major agreement that would see Saudi Arabia normalizing relations with "Israel", Axios reported Tuesday.

The news website cited White House officials as saying that the chances of achieving a "historic" normalization deal are slim amid the ongoing war in Gaza and the US presidential race just seven months away.

Four American and Israeli officials told Axios that the White House remains engaged in efforts to finalize a draft US-Saudi defense treaty and agreements related to US support for a Saudi civilian nuclear program.

Axios mentioned that US officials aim to negotiate a bilateral agreement with Saudi Arabia and then potentially present it to Israeli occupation Prime Minister Benjamin Netanyahu, adding that the latter's acceptance of the deal would entail a commitment to a pathway toward a two-state solution.

It explained that Netanyahu would then face a decision: accepting the deal could lead to a normalization agreement with Saudi Arabia, while rejecting it could portray him as a "rejectionist" and potentially erode his remaining support from the United States.

A senior Israeli official revealed to Axios that "there has been lot of progress in the talks between the U.S. and Saudi Arabia about their draft defense treaty. They want to have their side of the deal ready and then put it on our table and say, 'Take it or leave it."

President Biden mentioned last week that he still believes a major deal with Saudi Arabia is doable and applicable despite recent setbacks caused by the war in Gaza.

"I won't go into detail now. But look, I've been working with the Saudis. ... They are prepared to fully recognize Israel," the US President revealed.

"But ... there has to be a post-Gaza plan here, and there has to be a train to a two-state solution. Doesn't have to occur today, but it has a progression. I think we can do that," he added.

Ahead of Sullivan's trip, three officials—White House Middle East czar Brett McGurk, senior energy advisor Amos Hochstein, and State Department counselor Derek Chollet—are scheduled to hold meetings in Saudi Arabia on Wednesday, Axios noted.

However, the news website pointed out that some within the White House view the Saudi mega-deal as unrealistic, citing factors such as the war in Gaza, Netanyahu's reliance on right-wing coalition partners, and domestic politics in the United States.

Riyadh has made it clear that progress toward normalization with "Israel" hinges on ending the war in Gaza and the Israeli government's commitment to a two-state solution.

But Netanyahu's stance suggests he is not heading toward ending the war. Furthermore, he not only opposes a two-state solution but also rejects the notion of the Palestinian Authority having a role in governing Gaza post-war, Axios indicated.

The news website also explained that even if an agreement is reached, it would require the Senate to ratify the defense treaty with Saudi Arabia and potentially the nuclear agreements, adding that given the current political climate in Washington, this presents a significant challenge, with uncertainty surrounding whether enough Democrats would support the deal.

Read more: Why is Saudi Arabia open to normalize relations with 'Israel'?