Since you have tagged this with "Balfour Declaration," you are clearly asking about the situation in Palestine after WWI. Of course, we cannot really talk about an "Israeli" viewpoint at that point because the State of Israel did not exist. We will look, then, at the point of view of the Zionists.
The Zionists believed that there needed to be a Jewish society with a Jewish government. They believed that this would get Jews away from having to live in the midst of anti-Semitic people as they did in many parts of Europe. At first, the Zionists believed that they could have a Jewish homeland in Palestine that could coexist with the existing Arab population. As time went by, though, they came to believe that they needed their own separate and independent country where they could rule themselves.
The Zionist point of view, then, was that Jews needed a place where they could rule themselves so as to avoid being in the control of people who were liable to hate them.