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The assailant was shot at by Israeli security forces but managed to escape. 

Israeli forces have raided nearby villages, including Hares in the search for the perpetrator, who has not yet been caught, according to Palestinian sources.

Civilian and military medical crews provided first aid to the man, in his forties, who was subsequently taken to Beilinson hospital in Israel, after being stabbed in the upper body. The victim died shortly after in hospital.

"We send our condolences to his family," said Israeli Prime Minister Binyamin Netanyahu following the attack. "IDF forces are in pursuit of the murderers. We will exact our judgement. I put our faith in the security forces, who are doing an excellent job," the Israeli leader added.
A video of the aftermath of the attack soon circulated on social media.

Israeli forces have sectioned off the settlement and set up extensive checkpoints along Route 5.

A string of raids were carried out in the West Bank after an Israeli rabbi was shot and killed in a settler outpost near Nablus last month.

Four Palestinians have been killed in clashes related to the raids since the shooting.

Netanyahu announced on Sunday that the wildcat outpost of Havat Gilad, where the rabbi was shot, was to be granted formal authorisation as an official Israeli settlement, in response to the attack.

All Israeli settlements in the occupied West Bank are deemed illegal under international law and viewed as a major obstacle to peace. 

The settlement of Ariel is the fourth-largest in the West Bank, home to approximately 20,000 settlers as well as 10,000 students who attend its university.