Reuters says an Israeli security source identified the assailant as an Israeli Arab from the town of Kafr Qassem.
A police officer who was nearby arrived at the scene to find several people wounded and an overturned car near a popular Tel Aviv promenade. The officer “neutralized” the driver when he tried to pull a gun, police said.
The car had veered off the street near a popular bike and walking path along the beach. Reuters video from shortly after the incident showed a white car upside down on the grass of a park. Police cordoned off the area that was brimming with emergency responders.
Italian Foreign Minister Antonio Tajani confirmed on Twitter that the man killed was Italian.
It was the second deadly attack on Friday, after two Israeli sisters were killed when their car was shot up in the occupied West Bank.