The deadly shooting took place at the Huwara checkpoint on Wednesday. The victim was identified as Mohammed Abdel Moneim Mohammed Abdel-Fattah.
Footage went viral of the victim lying on the ground bleeding after being shot. It shows a number of Israeli settlers and soldiers standing over his body, while two of them search the victim.
According to Israeli media, the Palestinian victim was taken in a military ambulance in serious condition to a hospital, where he was pronounced dead.
The Palestinian Ma’an news agency reported that the Israeli settler had opened fire on the Palestinian under the pretext that he was attempting to carry out a stabbing attack.
Another young Palestinian man, who was standing in the area, was also injured by the gunfire.
The Israeli army said that there were no Israeli casualties in the alleged stabbing attack.
Israeli media reported that an assailant had attempted to open the door of a vehicle driven by an Israeli man to stab his daughter with a knife.
However, witnesses rejected any stabbing attempt, saying that the shooting came after one of the Palestinians – a driver — got out of his truck because of the closure of the road by the Israeli settler.
The Israeli military regularly opens fatal fire on Palestinians, accusing them of seeking to stab its personnel.
Human rights groups have repeatedly slammed the Tel Aviv regime for its shoot-to-kill policy as a large number of the Palestinians killed at the scene of the attacks did not pose any serious threat to Israelis.