They are suspected of awarding regulatory favours to the Bezeq telecom firm in return for positive media coverage of the couple.
Police have already recommended indicting Netanyahu on corruption charges in two other cases.
Police also said there is enough evidence to charge the Israeli leader's wife, Sara Netanyahu, with fraud, receiving bribes, and interfering with an investigation.
Police say the investigation, which included the testimony of 60 witnesses, revealed that Netanyahu and Bezeq boss Shaul Elovitch engaged in a "bribe-based relationship".
"I am certain that the authorized officials, after considering the matters, will reach the same conclusion in this case as well - that there was nothing because there is nothing", Netanyahu further said on Sunday.
Despite his dominance of Israeli politics, the newest police recommendation comes just after his right-wing coalition's majority was reduced to a precarious one seat in Parliament.
The prime minister has argued that he is the victim of a left-wing and media conspiracy to topple his conservative government.
The Bezeq case, known as Case 4000, is the most serious of all those of which Mr Netanyahu has been accused. Elovitch, in return, ordered Bezeq Group's Walla news to provide favourable coverage for Netanyahu and his wife Sara Netanyahu.
Despite the ongoing criminal investigations, which began a year and a half ago, Netanyahu has held on to the support of his Likud party and his coalition.
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From 2012 to 2017 the prime minister and his associates "blatantly intervened" on a near-daily basis in the Walla news site, using the connections with Elovitch to influence appointments there and to promote flattering articles and pictures while quelling critical stories of the prime minister and his family, police said.
This is the third corruption probe in which police have recommended charges against the prime minister.
The three cases involving the long-serving premier have led to speculation over whether he will eventually have to step down.
Other opposition figures, including opposition leader Tzipi Livni, quickly joined in the call for Netanyahu to resign.
The attorney general will now decide whether to bring indictments in the case.
Elections are now scheduled for November 2019.
They recommended Sara Netanyahu face charges of bribery, fraud, breach of trust and obstruction of evidence.
Denying the charges today, Netanyahu said: "There was nothing because there is nothing".