Imad Mohammed Nesir, 22, was killed in the north of the blockaded enclave, Gaza's health ministry says, adding four others were wounded in the raid.
Israeli air strikes on Gaza killed a Palestinian, the blockaded Palestinian enclave's health ministry said on Saturday, as a fragile ceasefire again faltered.
Imad Mohammed Nesir, 22, was killed in an attack on northern Gaza, the ministry said, adding that four others were wounded.
Israeli army said that around 90 rockets were launched from Gaza to Israel and most were intercepted by its Iron Dome defence system. It said air raids were in response to attacks from Gaza early Saturday.
Gaza-based journalist Hind Khoudary however said the rockets from Gaza were in reaction to previous Israeli raid and the killing of four people during Gaza protests on Friday.
A Gaza's security source said that a series of Israeli strikes hit at least three separate areas of the Gaza and that three "resistance fighters" were wounded.
No casualties had been reported on the Israeli side.
Israeli Prime Minister Benjamin Netanyahu was planning to hold consultations with security chiefs, a spokesman said.
The escalation follows the most violent clashes along the Gaza fence with Israel in weeks on Friday.
Four Palestinians, including a teenager, were killed Friday in the blockaded Gaza during a rally against Israel's decades-long occupation and an Israeli air strike.
Great March of Return
Protesters in Gaza demand the right of Palestinian refugees to return to their homes in historical Palestine, from which they were driven in 1948 to make way for the new state of Israel.
They also demand an end to Israel's 12-year blockade of the Gaza, which has destroyed the coastal enclave's economy and deprived its roughly two million inhabitants of many basic commodities.
Palestinians have been protesting against Israel since March 2018 as part of the "Great March of Return," during which Israeli troops have targeted civilians with live bullets.
Over 200 Palestinians have been killed by Israeli troops since the beginning of the demonstrations.