The Palestinian had arrived at the checkpoint, which has separate lines for men and women, and "pulled out a knife and stabbed a military policewoman," a police statement said, adding she had been detained at the scene.
Israel's emergency medical service Magen David Adom said the soldier was in moderate condition.
The attack came in the Muslim holy month of Ramadan, during which Israel has eased some restrictions on Palestinian movement from the occupied West Bank to Jerusalem.
On Friday, a Palestinian opened fire at Israeli soldiers at a West Bank checkpoint before being shot dead.
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On June 21, a Palestinian from the West Bank stabbed an Israeli policeman near Jerusalem's Old City before being shot. Both were seriously wounded.
In response, Israel revoked entry permits to residents of the Palestinian's village.
Two days earlier on the first Friday of Ramadan, a Palestinian shot dead an Israeli hiker near the West Bank city of Ramallah.