Ahmad Fathi Masad, a former prisoner from Burqin, west of Jenin, was recognised as the 18-year-old.
On Wednesday morning, his death at the Jenin refugee camp was reported, and an hour later, a funeral procession was arranged for him.
He was shot in the head, according to the Palestinian health ministry. Three more Palestinian teenagers were also injured by live Israeli fire and are in stable condition.
Armed clashes with Palestinian fighters erupted in the camp.
The Israeli army said that it was “conducting counterterrorism activity” in Jenin, but did not comment on any casualties.
The Palestinian Islamic Jihad (PIJ) movement, which is active in the Jenin camp, said in a statement: “The blood of the martyr Ahmad and all the martyrs, will not go in vain.”
Israeli forces arrested at least 15 Palestinians in raids on other parts of Jenin and across the occupied West Bank on Wednesday.
Masad’s killing comes just a day after another Palestinian, 20-year-old Ahmad Ibrahim Owaidat, was killed during a raid on the Aqabet Jaber refugee camp in Jericho, in the eastern West Bank.
Israel has stepped up raids and arrests across the West Bank after four attacks in Israel left 14 people, including three police officers, dead.
At least 47 Palestinians have been killed by Israelis since the start of 2022.
Jenin has become the target of increasing Israeli military raids, arrests and targeted assassinations, in an attempt to crack down on growing Palestinian armed resistance there.
Fears are rampant of a possible large-scale Israeli invasion of the camp, where the armed wings of the PIJ and Fatah movements are active.
Israeli forces have killed 11 Palestinians over the past two weeks in the West Bank, including six from Jenin.