The army said "the assailant arrived in his vehicle to a military post adjacent to the community of Ofra, north of Ramallah, and accelerated" towards a soldier before the attempted stabbing.
It said the alleged assailant had been "neutralised," and that there were no Israelis injured in the attack.
The Palestinian health ministry confirmed the man's death.
He is the fourth Palestinian killed by Israeli in the West Bank since Monday, when a conflict between Israel and Palestinian armed groups in Gaza escalated.
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