At least four people have been killed and more than 100 injured since the harvest began earlier this month, according to the Palestinian health ministry.
Activists say Israeli authorities do little to stop attacks that involve weapons ranging from slingshots to guns.
An attack on Friday seriously injured a Washington Post photographer and others.
In Saturday's attack in the Christian village of Taybeh, settlers targeted Belgium's consul general, French and Polish diplomats and Catholic representatives, Belgian Foreign Minister Maxime Prevot said.
"A French mayor was assaulted and a Belgian vehicle damaged. Our team is safe," Prevot said.
He linked the attack to what he called Israel's "illegal settlement policy" and pledged to push for further European Union sanctions.
"Impunity for violent settlers must end," he added.
Israeli army radio military correspondent Doron Kadosh wrote on X on Saturday that the settlers attacked the vehicles of diplomats from France, Belgium and Poland.
He said that, according to eyewitnesses, seven masked men surrounded a diplomatic vehicle with their off-road vehicles before demanding identification and smashing a window.
Video footage shows a diplomat lying on the ground.
Video shared by an activist at the scene, Amit Orfali, shows the French mayor, wearing a tricolour sash, leaning against a vehicle while sitting on the dusty ground.
Other clips showed young masked men knocking insistently on a driver's side window and asking for IDs, while other masked men carrying sticks advanced in the distance.
Orfali said the masked men "threatened to kill us".
Israel's military in a statement confirmed Saturday's attack on the diplomats and called it a "severe act of violence" but said the visit had not been co-ordinated with it and no soldiers were at the scene.
Israeli police said they had opened an investigation and vowed to work "until everyone who took part in these cases is brought to justice".
Foreign Minister Gideon Saar on X condemned the "severe acts of violence by Israeli rioters," adding that his ministry was in contact with ambassadors from the countries concerned.
But Netanyahu's office later issued a statement warning against "premature conclusions" in the incident and noted concerns about "a co-ordinated campaign to smear Israel."
The incident took place during the olive harvest near the village of Taybeh.
The account follows another violent incident on Friday during which Israeli settlers attacked Palestinian villagers gathering olives near the village of Abu Falah in the West Bank.
Washington Post photographer Heidi Levine was injured in the attack despite wearing a protective vest with "PRESS" clearly visible on the front and back.
The US photographer was knocked to the ground and repeatedly kicked, and her phone and camera were taken, the newspaper said.
Levine was treated at hospitals in Ramallah and Israel for cuts across her body, a broken rib and four broken vertebrae, the Washington Post reported.
It said Levine needed surgery on her hand after a finger was ripped open, exposing bone.
The newspaper said dozens of masked Israeli settlers had attacked the villagers, throwing stones and setting olive groves on fire.
with AP
