The intermittent clashes broke the calm that prevailed in the area as part of the government’s security plan to preserve peace in the volatile city.
The boy was identified as 13-year-old Daniel Ahmad who died of wounds he sustained in the clashes, a security source told the Lebanese newspaper Daily Star.
The wounded were transferred to nearby hospitals in the city and included four soldiers, the source added.
Clashes broke out Monday evening between residents of the neighborhood of Jabal Mohsen and Bab al-Tabbaneh.
On Tuesday, the two rivals exchanged mortar shells as well as rocket-propelled grenades amid sporadic sniper fire and residents expected the direct fighting to erupt at any moment.
The tensions forced several branches of the Lebanese University to close Tuesday as well as several public and private schools in the areas of Baddawi, Bab al-Tabbaneh, Qibbeh and Zaheriyah.
Backed by armored vehicles, the Lebanese Army was seen patrolling the city and several other neighborhoods.
The two neighborhoods have a history of violent clashes, since the war started in Syria in 2011.