According to a statement by the movement, two Israeli air raids hit east of the Zeitun neighbourhood in the Gaza Strip early on Wednesday morning.
The statement said Ismail al Areer, 22, a member of Al-Quds Brigades, the armed wing of Islamic Jihad, was killed in the raid and five other members of the movement were injured.
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The Israeli military said in a statement that their aircraft targeted two terrorist squads preparing to launch rockets at Israeli soldiers from two different locations within the northern Gaza Strip.
"Successful hits were identified, preventing the rocket launches," the statement read.
Last Sunday, Israeli warplanes launched two strikes on the Gaza Strip in response to rocket fire from the Hamas-controlled Palestinian territory into the Eshkol region of southern Israel the day before, causing no casualties.
Earlier in October, the Israeli chief of staff warned that repeated rocket fire from Gaza would push Israel into taking "aggressive" action in the Gaza Strip.
Low-level unrest has rumbled in and around Gaza in past weeks but has not erupted into all-out fighting as it did on October 29 and 30 when tit-for-tat violence left 12 Palestinian militants and an Israeli civilian dead.
Militant groups say they are observing an Egypt-brokered truce agreement but have reserved the right to reply to any Israeli fire.
Israel has said it will target any militants poised to fire rockets across the border.
