A Palestinian tried to stab an Israeli soldier in the occupied West Bank on Sunday and was shot dead, Israel's army said, the latest incident in a nearly five-month wave of violence.

The attack occurred at the Bitot Junction south of Nablus in the northern West Bank.

"A Palestinian attacker attempted to stab an (Israeli) soldier at the Bitot Junction," the army said. "The force responded to the imminent danger, thwarting the attack and firing towards the assailant, resulting in his death."

Palestinian security sources spoke of gunfire targeting a Palestinian in the area.

Since October 1, Palestinian knife, gun and car-ramming attacks have killed 27 Israelis, an American and an Eritrean, according to an AFP count.

At the same time, 176 Palestinians have been killed by Israeli forces. Many of the Palestinians killed were carrying out attacks, while others were shot dead during protests and clashes.

Some analysts say Palestinian frustration with Israeli occupation and settlement building in the West Bank, the complete lack of progress in peace efforts and their own fractured leadership have fed the unrest.

Israel blames incitement by Palestinian leaders and media as a main cause of the violence.