A knife-wielding Palestinian stabbed two Israeli soldiers outside a West Bank settlement before being shot and killed Wednesday, the Israeli military said.

One of the soldiers was seriously injured by a stab wound to the neck and the other soldier was slightly injured before he opened fire and killed the assailant. Both soldiers were taken to a local hospital.

Israel saw a wave of similar attacks in the West Bank and Jerusalem toward the end of last year. However, the violence has mostly subsided during the current Jewish Passover holiday, before Wednesday's attacks.

Palestinians demand the West Bank, which Israel captured from Jordan in the 1967 war, as part of their future state and object to the Israeli presence there. Militants often target soldiers and Jewish settlers, attacking them with gunfire, knives and stone throwing.

Cabinet Minister Naftali Bennett of the nationalist Jewish Home party praised the wounded soldier's quick response.

"This should be the fate of anyone who harms innocent Jews," he said. "This is how such a serious incident must end."

The Associated Press contributed to this report.