Two of the three Israelis have been evacuated via helicopter to a nearby hospital, one of them in critical condition.
According to a Ma’an reporter near the scene, Israeli forces closed off Huwwara and Tapuah checkpoints, south of Nablus, following the suspected attack.
The checkpoints control one of the main routes that connects the northern occupied West Bank to the central and southern districts.
An Israeli police spokesperson did not immediately respond for comment.
The death marks the 75th Palestinian killed since the beginning of last month, the majority of whom were shot dead by Israeli forces during alleged, attempted, and actual attacks on Israeli military forces.
On Friday, Israeli forces shot and killed an elderly Palestinian woman after an alleged vehicle attack in Halhul, north of Hebron.
A spokesperson at the Shaare Zedek Medical Center in Jerusalem (al-Quds) told Ma’an that the woman, aged 72, was dead upon arrival at the hospital.
Recent attacks come as Israeli intelligence said earlier this week that a recent lull in violence was unlikely to be long-term, citing high levels of frustration among the Palestinian public and a weakened Palestinian Authority.