In a recent wave of violence, two Israeli police officers sustained injuries after being stabbed outside one of the gates of Jerusalem's old city.
This is the sixth violent incident in four days.
The latest incident on Monday came amid growing fears that a wave of attacks by Palestinians, which began last year but had largely subsided, appears to be escalating again, reports the CNN.
During the attack, a 38-year-old female police officer was stabbed in the neck and seriously wounded while a 45-year-old male officer received a stab wound on his upper body.
According to the police, the assailant followed the officers as they patrolled outside Herod's Gate into the Old City before stabbing them from behind.
The male officer reportedly disarmed and shot the attacker, leaving him seriously injured.
"What we know right now is that a terrorist stabbed two police officers in the backs while they were on patrol in the area," said police spokesman Micky Rosenfeld.
According to initial reports, the attacker in his 20s was a Palestinian resident of the east Jerusalem neighbourhood of Ras Alamoud.
According to Israeli authorities, four Palestinians were shot dead over the weekend during the assaults on Israelis.
On Sunday, a Palestinian wounded an Israeli army officer after stabbing him in the chest outside a West Bank settlement before the soldiers shot and wounded the attacker.
Since last September, Palestinians have killed 34 Israelis and two US citizens in stabbings, car rammings and shootings.
About 214 Palestinians were killed during that same period.
Palestinians have accused Israel of using excessive force or killing people, who were not assailants.
Israel has blamed the violence on incitement by Palestinian political and religious leaders. The Palestinians say it is rooted in nearly 50 years of military occupation and dwindling hopes for independence.
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