The Israeli military alleged in a statement that the move occurred near the town of Silwad, located northeast of Ramallah, on Sunday.
The statement added that the man approached an Israeli soldier and tried to stab the trooper close to the illegal Ofra settlement.
Palestinian media outlets identified the victim as 45-year-old Ahmed Hassan Abdel-Jalil Kahla.
Media coverage: "Ahmad Hasan Kahla, a 45-year-old Palestinian from Ramallah, was shot dead by Israeli occupation forces this morning outside the colonial Israeli settlement of Ofra in the occupied West Bank".
The development comes a day after Israeli military forces shot and killed two young Palestinian men during a raid in a village near the city of Jenin in the northern West Bank.
Izz Eddin Basem Hamamreh, 24, and Amjad Adnan Khalilieh, 23, were shot dead at the entrance to the town of Jaba’ on Saturday morning, the Palestinian Ministry of Health said.
Israeli forces launch raids on various cities of the occupied West Bank almost on a daily basis under the pretext of detaining what it calls “wanted” Palestinians. The raids usually lead to violent confrontations with residents.
Over the past months, Israel has ramped up attacks on Palestinian towns and cities throughout the occupied territories. As a result of these attacks, dozens of Palestinians have lost their lives and many others have been arrested.
The United Nations (UN) marked 2022 as the deadliest year for Palestinians in the West Bank in 16 years.
Israeli forces killed at least 171 Palestinians in the West Bank and occupied East al-Quds last year, including more than 30 children. At least 9,000 others were injured as well.
Reacting to fresh Israeli crimes, the Palestinian Hamas resistance movement said in a statement on Friday that it holds Israel accountable for its continued crimes and violations against Palestinians, and reaffirms that the occupying regime’s acts of aggression will not go unnoticed.