Several other Houthi ministers were also reported killed or injured in the same strike, with some named by Saudi Arabian news site Al-Hadath.
Israel confirmed it carried out an airstrike targeting senior Houthi figures in Sanaa, describing it as a "complex operation" based on intelligence.
The strike occurred amid ongoing hostilities, with Houthis having attacked Red Sea vessels and fired missiles at Israel in solidarity with Palestinians since October 2023.
Mohamed Moftah has been assigned to carry out the prime minister's duties, as Rahwi was largely considered a figurehead.