The money is being distributed through the Right Here programme, which is jointly run by the Paul Hamlyn Foundation and the Mental Health Foundation, and has a total fund of £6m to spend until 2014.
The four charities were selected from 200 applicants and will each receive £800,000 to become frontline partners for the programme.
Hove and Sheffield YMCAs will use the money to support young people living in areas of social deprivation on the outskirts of their cities.
Newham-based New Choices for Youth Trust's funding will be used to support young people from black and ethnic minorities and Youth Action in Northern Ireland aims to run mental health projects that cross the sectarian divide.
Elise Leclerc, Right Here's youth participation manager, said: "Listening to young people is at the heart of the programme. Only by working closely with those who have experienced the current system can we really design new services that young people will feel comfortable using. We could not do the job properly without their involvement."
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