The Israeli military, whose forces struck the same refugee camp on Sunday, did not immediately comment on the latest deaths.
The Palestinian health ministry said in a statement that the woman and the child were killed in Nur Shams camp, near the northern West Bank town of Tulkarm.
Four other people were wounded by Israeli "live fire", it said.
An AFP journalist saw Israeli armoured vehicles enter the camp on Monday.
The Palestinian Red Crescent said it was handling three injuries from the raid.
The camp has seen increased violence in recent weeks.
The Palestinian Islamic Jihad militant group said Sunday that a commander from its armed wing was killed by a drone strike inside the camp.
The Ramallah-based health ministry said five others were wounded in the strike, including two who were in critical condition.
In April, a two-day Israeli raid left 14 people dead in Nur Shams, the Palestinian Red Crescent said at the time.
Already soaring violence in the West Bank, which Israel has occupied since 1967, has further surged since the Israel-Hamas war in Gaza broke out on October 7.
The Hamas attack on southern Israel that sparked the war resulted in the deaths of 1,195 people, mostly civilians, according to an AFP tally of Israeli official figures.
Israel's retaliatory campaign in the Gaza Strip has killed at least 37,900 people, also mostly civilians, according to data provided by the health ministry in the Hamas-run territory.
In the West Bank, at least 556 Palestinians have been killed by Israeli soldiers and settlers since October 7, according to a health ministry tally.
At least 15 Israelis have been killed in Palestinian attacks in the West Bank over the same period, according to an AFP tally based on official Israeli figures.
