Palestinian media said the shooting on Friday came during confrontations between Israeli forces and Palestinians in a village near the town of Bethlehem, Al Jazeera reported.
Palestinian witnesses told the Reuters news agency that a group of young Palestinians near Bethlehem were throwing rocks at Israeli troops, who responded with tear gas and gunfire.
The Palestinian Health Ministry named the victim as 16-year-old Mustafa Sabah. He was reportedly shot in the chest.
In a separate incident on Thursay, Israeli forces killed a Palestinian man in the occupied West Bank.
Over the past months, Israel has ramped up attacks on Palestinian towns and cities throughout the occupied territories. As a result of these attacks, dozens of Palestinians have lost their lives and many others have been arrested.
Most of the raids have focused on the West Bank cities of Nablus and Jenin, where Israeli forces have been trying to stifle a growing Palestinian resistance against occupation.
At least 106 Palestinians have been killed by the Israeli occupation forces so far this year, including an elderly woman and at least nine children, according to Wafa.