High Commissioner - Sir Harold MacMichael
Emir of Transjordan - Abdullah I bin al-Hussein
Prime Minister of Transjordan - Tawfik Abu al-Huda
January - The Stern Gang kill two members of the Histadruth.
12 February - Avraham Stern, the leader of the Lehi underground Zionist group, is assassinated by British Intelligence officers, who storm the Tel Aviv apartment in which he is hiding, tie him up and shoot him.
24 February - MV Struma, carrying Jewish refugees from Axis-allied Romania to Palestine, is torpedoed and sunk by the Soviet submarine Shch-213, killing at least 768 civilians, and possibly as many as 791, of whom 785 were Jews.
May – The Tel Aviv Central Bus Station opens to the public.
6–11 May - The Biltmore Conference, held in New York City at the prestigious Biltmore Hotel with 600 delegates and Zionist leaders from 18 countries attending, makes a fundamental departure from traditional Zionist policy and demands "that Palestine be established as a Jewish Commonwealth" (state), rather than a "homeland." This sets the ultimate aim of the movement.
2 August - The British form the Palestine Regiment, consisting of one Arab and three Jewish battalions. Initially, the Regiment is principally involved in guard duties in Egypt and North Africa. The British also want it to undermine efforts of Hajj Amin al-Husayni, who is working to obtain Arab support for the Axis Powers against the Allies.
Ihud, a Jewish political party, established.
12 February – Ehud Barak, the 13th Chief of Staff of the IDF and former Prime Minister of Israel
2 March – Meir Ariel, Israeli singer and poet (died 1999)
3 January - Pinhas Rutenberg (born 1879), Ukrainian-born Palestinian Jew who was the founder of The Palestine Electricity Corporation
12 February - Avraham Stern (born 1907), Polish-born Palestinian Jew who was the leader of the Lehi
1942 in Mandatory Palestine Wikipedia
Events in the year 1942 in the British Mandate of Palestine.