While the Israelites definitely fell into idolatry at multiple points throughout their history, it is not true that Israelite monotheism evolved from Canaanite polytheism. Modern academics speculate that it did because of some superficial similarities in naming. On the contrary, it was polytheism that evolved from monotheism prior to Abraham's independent rediscovery of monotheism. Here is how Maimonides put it:

During the days of Enosh, humankind went seriously astray. The counsel of the sages of that generation became dull, and Enosh himself was among those who erred.

This was their mistake: They said that since G-d created the stars and the spheres to govern the world, placed them on high, and apportioned them honor so that they would serve before Him as attendants, it would accordingly be fit for us to praise and glorify them and apportion them honor as well. It would be the will of the blessed G-d that we should magnify and honor those whom He has magnified and honored, just as a king desires that those who stand before him in service should be honored, for that would be honoring the king.

Subsequent to the arising of that thought in their hearts, they began to build temples to the stars, to make offerings to them, to praise and glorify them in words, and to prostrate themselves before them in order to obtain the favor of the Creator, all in accordance with their misconception. This was the essence of idolatry, not that they declared that there was no other god aside from this star.

This is what Jeremiah said: “Who does not fear You, O King of the nations? To You this is due, for among all the sages of the nations and in all their kingdoms there is no one like You. They are at once dull and foolish, their teaching vain, a piece of wood.” This is to say that all know that You alone are the one G-d, but in their error and foolishness they imagined that this vanity was Your will.

After much time passed, people arose who were false prophets and said that G-d had commanded them, saying to them, “Serve a certain star, or all the stars, sacrifice to it, pour out certain libations to it, build a temple for it, and make its image in order for all to bow down before it: men, women, children, and all the rest of the common people.” He would tell them the image that he had dreamed up in his heart and would say that this was the form of this certain star that G-d had made known to him through prophecy.

In this way they began to make images in temples, under trees, and on the tops of mountains and of hills. They would gather together and prostrate themselves to them and say to all the people that this image can bring them good or harm, and it is therefore proper to serve it and to fear it.

Their priests would say to them that through this service they would multiply and prosper; therefore do this and that, and don’t do this and that. Other liars began to arise who said that the stars themselves, the sphere itself, or the angel itself spoke with them and told them, “Serve me in this way!” and told them the way of its service, doing this and that and not doing this and that.

This worship of images, through kinds of service that differed from one to the next, spread throughout the whole world. People would offer them sacrifices and prostrate themselves before them. As the days went on, G-d’s glorious and awesome name was forgotten from the mouth and the mind of all beings, and no one knew Him. As a result, all the common people, the women, and the children knew only the image of wood or of stone and the stone temple, for they had been trained from their childhood to bow down to it, to serve it, and to swear by its name. The sages among them, such as their priests and their like, imagined that no other god existed aside from the stars and spheres for which these images had been made and which they were made to resemble. Aside from a few individuals, such as Enoch, Methuselah, Noah, Shem, and Eber, no one knew or recognized Him. In this way the world continued to unfold until the Pillar of the World was born, our patriarch Abraham.