Magen David Adom reported that two were seriously wounded and another lightly. Officials said that one of the wounded was 20-years-old and suffered from a head injury.
At least one was treated on the scene and the two seriously wounded were evacuated to Hadassah Medical Center in Jerusalem's Ein Karem, while the one who was lightly wounded was taken to Beilinson Hospital in Petah Tikvah.
The driver was driving south and veered quickly to the side of the road at a group of four soldiers that was standing at the side of the road and securing the area.
While the attacker was able to hit three of the soldiers, the fourth quickly responded and opened fire at the vehicle, critically wounding the driver and overturning his car, trapping the attacker inside.
Lieutenant Daniel Elvaz, who was lightly wounded in the attack, recalled that he identified a vehicle rapidly approaching the soldiers at 3:15pm.
"Right before the vehicle reaches me, it makes a sharp turn and hits me and my two soldiers," said Lieutenant Elvaz. "I realize it's a terror attack, notice the terrorist trying to leave the vehicle, shoot, and neutralize the incident."
Red Crescent medical workers treated the attacker, aged 40, on the scene, and he was then taken to the Shaarei Zedek Medical Center in Jerusalem, where he arrived critically wounded with four or five gunshot wounds. A Palestinian security source identified him as a resident of a West Bank village near Jerusalem.
Following the attack, IDF troops entered the Palestinian village of Biddu northwest of Jerusalem and carried out searches. Disturbances developed during searches of the village in which the suspected terrorist lives, and an IDF soldier was lightly wounded by a stone.
The troops targeted by the terrorist were sent to reinforce the area over the past week after the attack in Duma, in which a Palestinian baby was killed when his home was set aflame.
Large IDF forces from the Binyamin Territorial Brigade were deployed to the scene of the attack and cordoned off the road temporarily in suspicion that the vehicle, which had Israeli license plates, may be booby-trapped.
Prime Minister Benjamin Netanyahu praised the soldiers who reacted quickly and neutralized the attacker, and sent well wishes to the wounded.
"I find it curious that those who were quick to condemn the attacks against Palestinians remain silent while terrorism is committed against Jews," the prime minister.
"The fight against Palestinian terrorism requires determination and an iron fist against the terrorists and those who send them," Defense Minister Moshe Ya'alon said. "We do not intend to give up on this fight, and we are using our best people and abilities to prevent attacks against the citizens of Israel."
"Terrorism is fought with zero tolerance, and so we act," the defense minister continued. "These sporadic attacks committed by individuals, just like attacks committed by terror organizations, pose a challenge to security forces, which in most cases succeed in thwarting attempts to hurt Jews simply for being Jews."
The defense minister praised the soldiers' quick reaction, and sent his well wishes to the wounded soldiers.
President Reuven Rivlin also praised the soldiers and expressed his support for Prime Minister Netanyahu "and the heads of all the security services in their uncompromising struggle for our right to live and go about our daily lives in every part of the land of Israel. Together with all the people in Israel, my prayers and wishes are with the wounded for their full and speedy recovery."
Hamas, meanwhile, praised the attacker. "This is a natural and worthy response to Israel's crimes against our people and children."
The group encouraged other Palestinians to continue the attacks, claiming this is the only language Israel understands.
The attack occurred near the scene of another attack, when two soldiers were stabbed by a Palestinian in April.
The attack comes just days after a general period of escalation in the West Bank and specifically after suspected right-wing Jewish extremists set fire to a Palestinian home in the nearby town of Duma, killing a baby and hospitalizing three other family members.