Troops at the Hawara checkpoint near the city of Nablus became suspicious of the teen carrying a wooden box and blew up the contents in a controlled detonation after discovering the explosives.
According to Palestinian sources the teen is 16-year-old Khalil Mohammed Hashash, whose family has a history of criminal offenses connected to weaponry possession.
However, Hashash claimed he had no intention of carrying out an attack on Israelis.
"I didn't do it to blow anything up, I did it to get arrested and get a break from this life," he said, adding that he was hoping to collect a paycheck from the Palestinian prisoner associations to help out with his family's expenses.
Over the past three months the IDF has thwarted 21 attempts to smuggle explosives into Israel, where the suspects have been under the age of 18 years.