The official Palestinian news agency Wafa reported that the aerial strike targeted the local headquarters of the Palestinian Fatah Resistance movement at Balata refugee camp early on Saturday.
Witnesses said the strike appeared to have come from a drone, though there was no immediate confirmation.
Local sources indicated that several young men were present in the building.
The Palestine Red Crescent Society (PRCS) announced in a statement that its medics were dealing with five serious injuries from the attack, all of them men ranging from 19 to 25 years of age.
A Zionist regime newspaper reported that four of those killed were affiliated with the al-Aqsa Martyrs’ Brigade, the armed wing of the Fatah faction.
Elsewhere in the northeastern West Bank city of Tubas, an 18-year-old Palestinian, identified as Omar al-Shahrouri, was killed and two others injured as clashes broke out after Zionist forces stormed the area in large numbers.
Palestinian medics said three young men suffered from gunshot injuries during the clashes. One of them was pronounced dead upon his arrival at the hospital. 
Earlier on Friday, Zionist forces shot and killed two young Palestinian men over an alleged shooting attempt in the southern part of the occupied West Bank.
The Zionist forces alleged in a statement that the pair arrived in a car at the Zaytoun Junction near the city of al-Khalil, located 30 kilometers (19 miles) south of al-Quds, and opened fire on Zionist troops stationed there. The soldiers then fatally shot both of them.
Zionist forces have escalated raids on Palestinian towns and villages and carried out a sweeping campaign of arrests in the occupied West Bank, where Palestinians have held protests in solidarity with their compatriots in the Gaza Strip.
At least 186 Palestinians, including 51 children, have been killed by Zionist troops in the West Bank since the Gaza war erupted in early October.
The Israeli regime has launched relentless air and ground attacks on the coastal enclave, including hospitals, residences, and houses of worship, since Palestinian Resistance movements launched their surprise attack, dubbed Operation Al-Aqsa Storm, against the regime on October 7.
At least 11,500 Palestinians have been killed, including 4,710 children. More than 29,800 individuals have sustained injuries as well.
According to the Ministry of Health, 3,640 citizens are still missing or under the rubble, including 1,770 children.