The incident took place at an intersection in a settlement area near the West Bank city of Bethlehem. The boy was taken to hospital, and Israeli troops afterward combed the area for suspects behind the attack, the military said.
Earlier in the day, Israeli police arrested five Israelis suspected of planning to attack Palestinians in Jerusalem.
The five, including four minors, had collected rocks in a Jerusalem park and were caught carrying two knives, said police spokeswoman Luba Samri. She added that they previously participated in activities of the extremist Jewish group Lehava, which is opposed to Arab-Jewish coexistence.
In a separate development Sunday, Israeli police took four Lehava activists into custody, part of a recent clampdown on the fringe organization which has become a symbol of rising anti-Arab sentiment in Israel, informs Report citing Fox news.
The arrests took place in five different cities throughout Israel, Samri said. Four additional Lehava activists were detained and then released.
The arrests came as Israelis celebrate the weeklong Jewish holiday of Hanukkah.
Last week, police arrested 10 Lehava members, including its leader, on suspicion of racist incitement and calls to violence. The group has sought to break up Arab-Jewish couples and has waged campaigns to prevent Jews and Arabs from working together.
Also, three Lehava members were indicted last week on charges of torching a bilingual Hebrew-Arabic school in Jerusalem last month.