Earlier reports suggested that a 16-year-old Palestinian was killed and another 40 people were injured.
The confrontation escalated last week after a gunman killed two Israeli soldiers in the occupied West Bank, prompting sweeping raids by Israeli forces.
The Israeli government refuses to recognize Palestine as an independent political and diplomatic entity and continues to build settlements in the occupied areas, despite objections from the United Nations.
The Middle East settlement process took a hit last December when the United States decided to recognize Jerusalem as the capital of Israel. The move was condemned by Arab states and has been rejected by European nations. Palestine responded by refusing to accept the United States as the primary mediator in peace talks with Israel.
Meanwhile, Egypt has renewed efforts to mediate the conflict between Israel and Palestine.