The Bani Odeh family were travelling in their car in the town of Tammum, in the northern West Bank, when Israeli forces opened fire.
Two other children in the car survived with injuries.
Israeli officials stated that a joint operation involving the army and paramilitary border police was underway in the area at the time.
They claimed that the forces perceived a threat and responded with gunfire.
"As a result, four Palestinians in the vehicle were killed," a statement from the Israeli military and police said, claiming that the circumstances of the incident were being investigated.
The Palestinian health ministry identified the deceased as parents Ali and Waad, along with their five-year-old son Mohammed and seven-year-old son Othman.
The ministry reported that all four arrived at the hospital with gunshot wounds to the face and head.
The surviving children, aged eight and 11, who were also in the vehicle and witnessed the event, sustained minor shrapnel injuries.
The Palestinian Red Crescent stated that Israeli forces initially blocked their crews from accessing the injured in the car and instructed them to depart the area.
The United Nations noted that significant portions of the occupied West Bank have faced increased movement restrictions following the start of the war imposed by the US and Israeli regime on Iran on February 28.
Meanwhile, Palestinian authorities and the UN have reported ongoing violent crimes in the region.
According to the UN's humanitarian affairs office, OCHA, between October 7, 2023, and March 8, 2026, 1,064 Palestinians were killed by Israeli regime forces in the occupied West Bank, including at least 231 children.