Palestinian medical sources confirmed that a young man in his twenties from Shujaiyya neighborhood of Gaza City was hit in the leg and abdomen.
He was evacuated first to Kamal Udwan hospital in Jabalia, then to al-Shifa hospital in Gaza City.
An Israeli spokeswoman said in a statement that, "A suspect was identified approaching the security fence in the northern Gaza strip, in an attempt to conceal an explosive device against IDF soldiers."
"The soldiers at the scene called at the suspect to stop, fired warning shots to the air, and once he failed to comply, opened fire towards his lower extremities."
Israeli forces frequently shoot at farmers and other civilians inside the Gaza Strip if they approach large swathes of land near the border that the Israeli military has deemed off-limits to Palestinians.
The "security buffer zone" extends between 500 meters and 1500 meters into the Strip, effectively turning local farms into no-go zones.
The Gaza Strip has been under a severe economic blockade imposed by the State of Israel since 2006.