The military describes it as a “targeted attack against a key Hezbollah terrorist.”
The order reportedly came from Prime Minister Benjamin Netanyahu and concerns Hezbollah's chief of staff, according to the Prime Minister's staff.
Smoke is visible from the southern parts of the city and the attack is the first against Beirut since June.
In recent weeks, Israeli attacks have intensified in southern Lebanon, where Israel claims Hezbollah is trying to rebuild its military capabilities.
Hezbollah has not commented on the attack.
Israel and Hezbollah signed a ceasefire a year ago. In September of this year, the Lebanese government issued a plan for Hezbollah to disarm by the end of the year.
