UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 6-K

                            REPORT OF FOREIGN ISSUER

                        PURSUANT TO RULE 13A-16 OR 15D-16
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                          For the month of August 2008

                         Commission file number: 0-30394

                                  METALINK LTD.
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                 (Translation of registrant's name into English)

                    YAKUM BUSINESS PARK, YAKUM 60972, ISRAEL
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                     (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.

                         Form 20-F [X]     Form 40-F [_]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): [_]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): [_]

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                               Yes [_]     No [X]

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ____________

The information contained in this Report on Form 6-K is hereby incorporated by
reference into the registrant's Registration Statements on Form F-3 File Nos.
333-145431, 333-104147 and 333-13806 and on Form S-8, File Nos. 333-121901,
333-12064, 333-88172, 333-112755 and 333-149657.

The following are included in this Report on Form 6-K:

1.   Press Release dated August 18, 2008.

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                                METALINK LTD.

Date: August 18, 2008                           By: /s/ Yuval Ruhama
                                                --------------------
                                                Yuval Ruhama
                                                Chief Financial Officer

       METALINK RECEIVES NASDAQ NOTIFICATION RELATED TO MINIMUM BID PRICE

YAKUM, ISRAEL, AUGUST 18, 2008 - Metalink Ltd. (NASDAQ: MTLK), a global provider
and developer of high-performance wireless and wireline broadband communication
silicon solutions, today announced that it received a Nasdaq Staff Deficiency
Letter on August 13, 2008, indicating that the Company fails to comply with the
minimum bid price requirement for continued listing set forth in Marketplace
Rule 4450(a)(5). Nasdaq provided Metalink with a 180 calendar day period, or
until February 9, 2009, to regain compliance. Compliance is achieved if, at
anytime before February 9, 2009, the bid price of the Company's ordinary shares
closes at $1.00 per share or more for at least 10 consecutive business days. If
the Company does not regain compliance by February 9, 2009, Nasdaq's staff will
provide written notification that the Company's ordinary shares will be
delisted.

The Company intends to evaluate alternatives aimed at regaining compliance. If
the Company's ordinary shares are ultimately delisted from the Nasdaq Global
Market, the Company may apply to list its ordinary shares on the Nasdaq Capital
Market. If accepted for listing on the Nasdaq Capital Market, the Company would
have an additional 180 calendar day period to comply with the minimum bid price
requirement, or until August 8, 2009.

The listing of the Company's ordinary shares on the Tel Aviv Stock Exchange,
under the symbol MTLK, is expected to continue as usual.

ABOUT METALINK

Metalink Ltd. (NASDAQ: MTLK) is a provider of high performance wireless and
wireline broadband communication silicon solutions. Metalink's WLAN and DSL
technologies are designed to enable true broadband connectivity in every home,
and its products revolutionize the broadband experience by facilitating the
convergence of telecommunication, networking and entertainment.

Metalink's WLANPlus(TM)is a high-throughput, 802.11n-draft-compliant wireless
LAN technology optimized for the networked home entertainment environment.
Featuring advanced MIMO technology and full support of QoS, and operating in
both 2.4GHz and 5GHz bands, WLANPlus enables multi-room networking of multiple
high-definition video streams. In addition, Metalink offers a broad range of
symmetric DSL and VDSL products used by operators as a cost-effective network
upgrade to support triple-play services.

Headquartered in Yakum, Israel, the company has design centers in USA (Atlanta,
GA) and Taiwan, and sales offices in USA (Atlanta, GA), South Korea, China and
Taiwan. Further information is available at http://www.MTLK.com

SAFE HARBOR STATEMENT

This press release contains "forward looking statements" within the meaning of
the United States securities laws. Words such as "aim," "expect," "estimate,"
"project," "forecast," "anticipate," "intend," "plan," "may," "will," "could,"
"should," "believe," "predicts," "potential," "continue," and similar
expressions are intended to identify such forward-looking statements. For
example, when we discuss our expectation regarding future revenues or the review
of strategic options, we are using a forward looking statement. Because such
statements deal with future events, they are subject to various risks and
uncertainties that could cause actual results to differ materially from those in
the forward looking statements. Factors that could cause or contribute to such
differences include, but are not limited to: our need to raise additional funds
in order for us to implement our current business plan, including our liquidity
requirements, which funds may not be available to us; any unforeseen
developmental or technological difficulties with regard to our products; changes
in the competitive landscape, including new competitors or the impact of
competitive pricing and products; and the impact on revenues of economic and
political uncertainties and weaknesses in various regions of the world,
including the commencement or escalation of hostilities or acts of terrorism.
Additional factors that could cause actual results to differ materially from
these forward-looking statements are set forth from time to time in Metalink's
filings with the Securities and Exchange Commission, including Metalink's Annual
Report in Form F-20. Readers are cautioned not to place undue reliance on
forward-looking statements. Except as required by applicable law, the Company
undertakes no obligation to republish or revise forward-looking statements to
reflect events or circumstances after the date hereof or to reflect the
occurrences of unanticipated events. The Company cannot guarantee future
results, events, and levels of activity, performance, or achievements.