In the attack, which occurred in the wee hours of Wednesday, an Israeli fighter jet targeted a vehicle in the city of Beit Hanoun in northeast Gaza.
Residents and medics in Beit Hanoun said the strike killed two members of Islamic Jihad resistance group.
According to eyewitnesses, the men were sitting in the parked car when the missile fired from the aircraft hit it.
The attack happened hours after Israeli Prime Minister Benjamin Netanyahu threatened to attack Gaza.
He promised to teach the Hamas government in the coastal enclave a lesson following an earlier rocket attack on an Israeli target.
The Hamas government has already deployed forces in Gaza to preserve a 2012 ceasefire.
Tel Aviv says the onslaught was in retaliation to rocket attacks. Israel has been pounding Gaza despite the Egyptian-mediated truce that ended Israel’s deadly eight-day war on the coastal enclave.
Gaza has been blockaded since June 2007, a situation that has caused a decline in the standard of living, unprecedented levels of unemployment, and unrelenting poverty.
The apartheid regime of Israel denies about 1.7 million people in Gaza their basic rights, such as freedom of movement, jobs that pay proper wages, and adequate healthcare and education.
In 2011, a UN panel found that Israel’s blockade has subjected Gazans to collective punishment, which is “in flagrant contravention of international human rights and humanitarian law.” But Israel has ignored repeated international pleas to lift the blockade.