An Israeli army spokesperson said Israeli forces shot the Palestinian man near the illegal settlement of Ganim, east of Jenin, claiming he had attempted to carry out a vehicular attack.
The spokesperson said there were no casualties among Israeli forces.
The Palestine Red Crescent Society said Israeli forces prevented its medical team from reaching the Palestinian victim, according to the Wafa news agency.
Separately, an Israeli settler was fatally shot in an attack near the illegal settlement of Halamish in the central occupied West Bank.
Police said the 30-year-old man was taken to a hospital, where he died of his wounds.
The Israeli army said it was searching for a suspect who allegedly opened fire from a vehicle before fleeing the scene on foot.
Following the shooting, Israeli forces closed all entry and exit points to the cities of Ramallah and el-Bireh, Wafa reported.