"The soldier was stabbed when forces at the scene approached two suspects at the junction. As the forces approached, the suspects attacked a soldier, stabbing and wounding him moderately," a statement said.
"Forces responded to the attack with immediate fire."
An army spokesman later confirmed to AFP the assailants had died.
Signup to our newsletter and follow us on Facebook and Twitter!
A spokesperson for the Shaare Zedek Hospital in Jerusalem said the soldier was in light to moderate condition, "suffering deep stab wounds to his face."
The southern West Bank city of Hebron has been the scene of a series of stabbings by Palestinians in recent days, mostly targeting Israeli security forces, with many of the attackers being shot dead.
In total, 58 Palestinians -- around half of them alleged attackers -- nine Israelis and an Arab-Israeli have been killed since October 1 in a wave of stabbings, shootings and violent protests.
The attacks have raised fears of a new Palestinian intifada, or uprising, similar to that of the early 2000s.