Eldad is the second member of parliament of the Moledet party (which is part of the National Union) and was hailed by the Israeli press (including Maariv and Yediot Aharonot) as an honest, hardworking, dedicated lawmaker. He heads the Ethics committee of the Knesset. Eldad is the only secular Member of Knesset in the National Union party.
Eldad is a Revisionist Zionist who believes in the ideas of Zionist philosopher Zeev Jabotinsky. Eldad supports the right of Jews to live in any part of the Land of Israel and opposes any surrender of Israeli sovereignty to the PLO. Eldad opposes the creation of any Palestinian Arab state west of the Jordan River and called its possibility a "disaster". The creation of a Palestinian state in Judea and Samaria would lead, Eldad believes, to a Hamas-run center of terror within three days of Israeli transfer of the land. Furthermore, Eldad believes that the State of Israel will never have peace with the Arabs.
On his Zionism, Eldad stated that "I belong to this part of the Jewish people that believes the Land of Israel belongs to the People of Israel." In a university lecture, he questioned, "how did we [the Jewish people] become so distorted as to say the Arabs have a right to our land?" On "occupation," he posits that "the only occupation I know of is the Arab occupation of the Land of Israel in the seventh century... If I am an occupier in Hebron, I am an occupier in Tel Aviv..." The Balfour Declaration, the White Papers, the United Nations recognition of the State of Israel- all these, Eldad believes, are not the sources of the Jewish right to the Land of Israel, but "only recognition of our right."
Prior to the scheduled Israeli withdrawal from the Gaza Strip and the northern West Bank in August 2005, Eldad was the only member of parliament to call for non-violent civil disobedience as a tactic in the struggle against the government. Eldad even walked the few hundred kilometres between the now evacuated community of Sa-Nur (in Northern Samaria) to Neve Dekalim in order to attract attention to the opposition of the Withdrawal plan.
In the February 2006 dismantlement of the Amona outpost Eldad was injured during the confrontation between demonstrators and police, as was his ally MK Effi Eitam. The event caused a storm of criticism on both sides, as interim Prime Minister Ehud Olmert accused them of inciting the crowd to attack the police, while they accused Olmert and the police of reckless use of force.
In August 2007, a 10 member Homesh Knesset caucus met for the first time, headed by Eldad. The caucus' mandate is to work to promote the re-establishment of Homesh - as a first step towards the return to all the places from which Jews were expelled during 2005. In 2008 he submitted a bill to the Knesset proposing that Hebron's Arab residents be removed "in order to protect the settlers of Hebron".
On 2007-10-19 he met Filip Dewinter in Brussels.
On his political goals, Eldad stated: "When I wake up in the morning, I divide the day into two parts. In the first part of the day, I try to prevent the creation of a Palestinian state. It is not a full-time job, so in the second part of the day, I try to prevent corruption." [Comment made in response to question about the corruption of former Prime Minister Ariel Sharon.]