Militants attacked the police picket at Achabal in the south Kashmir district Friday night, a police spokesman said.
He said the attack was successfully repulsed by jawans on duty at the picket.
In retaliatory action, one militant was killed, the spokesman said.
He said weapon of the militant was also recovered from the site of the attack.
The slain militant has been identified as Bilal Ahmad a resident of Tantraypora Yaripora of the neighbouring Kulgam district, the spokesman said.
Bilal had joined the proscribed terror outfit LeT three months ago. His involvement was also established in a weapon snatching case earlier. He was involved in carrying out terror attacks on the security forces and civilian atrocities in the area, he said.
In the incident, the spokesman said, a policeman also sustained injuries and was evacuated to nearby hospital for medical attention where his condition is stated to be stable.
"From the spot, two cars have also been seized by the police, who were apparently used by terrorists. Police have registered a case in this regard and investigation in the instant matter is in progress, the spokesman said.