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There is a lot of debate about this issue in Israel at present. Israel will respond, but when and how is still up in the air.

In my view, the best option, is regime change via death by a thousand cuts, just like we are doing to Hezbollah.

Israel does not need to do a single large attack to overwhelm Iranian defences because they are primitive and unable to cover the huge number of potential targets in the large land mass of Iran.

It can progressively degrade the Mullah's military capabilities and control of its population (ie killing IRCG thugs at their bases and elsewhere) until the Iranian people revolt and change the regime.

It is operationally and tactically much easier to hit hundreds of lightly or undefended targets like IRCG bases and missile storage and launch sites over a period of many months than penetrate the heavily defended and deep underground nuclear sites.

A new regime will be pro-Israel and pro-US and will abandon their nuclear program like South Africa did.

This balances Israel's allies desire to avoid energy price spikes and further disruption to shipping (things that are very important to US & EU but far less important to Israel) with Israel's need to overthrow the regime.