Jonatan Nir scored the go-ahead basket with less than two minutes remaining to lift Israel to a 72-68 come-from-behind victory over Hungary in Group B.
Following Friday's heart-thumping, 66-64 triumph over Italy, Israel looked to be headed for defeat one day later for at half-time they trailed 45-30.
The Hungarians extended their 52-35 early in the third quarter, but that is when the game turned for Israel.
Point guard Yogev Ohayon scored a lay-up for two of his game-high 22 points (Norbert Tóth also had 22 for Hungary) to start a 17-2 surge which left Israel trailing 54-52 at the end of the third quarter.
Hungary battled and a Tóth jumpshot put them in front at 62-60 midway through the fourth quarter.
Ohayon replied with a three-pointer, however, and then Nir's basket with 1:53 to play put Israel in the lead for good.
Ohayon had a terrific all-around game, dishing out five assists and coming up with four steals.
Power forward Elishay Kadir was outstanding as well, scoring 13 points and pulling down 11 rebounds.
Hungary's long-range shooting kept them in this game.
They finished nine of 20, while Israel were a woeful three of 13.
The victors, however, won the rebounding battle 40-31.
Hungary fell to Slovenia on Friday, so they are now 0-2.