Palestinian media sources identified the martyr as Abdul Rahman Jamal Qassem, from the Jalazon refugee camp near Ramallah in the central West Bank.
In a statement, zionist police claimed that a Palestinian was "neutralized" after an alleged stabbing attack.
Two Israeli officers were lightly injured in the alleged attack and treated at the scene before being taken to hospital, the statement added.
Footage from the scene showed the two zionist officers standing over the unarmed Palestinian young man lying on the ground, before one of them opened fire on him.
Following the incident, violent clashes broke out near Bab Al-Amoud Square, where several Palestinians were attacked amid heavy firing of sound bombs.
At Bab al-Sahera, one of the gates to the Al-Aqsa Mosque compound, two Palestinian young men were beaten and arrested by Israeli police forces.
On March 1, the Israeli army shot dead three Palestinians in two separate incidents in the occupied West Bank.
The same day, Israeli forces violently suppressed Palestinian celebrations for the Muslim holiday of Israa and Mi’raj at the Damascus Gate of the Old City.
At least 30 Palestinians, including several children, were wounded with stun grenades and rubber-coated steel bullets and physical assault, while 20 others were arrested. (ILKHA)