Youth communications group Livity and mentoring group horsesmouth are behind the online forum, which is at www.horsesmouth.co.uk.
Charity v and educational foundation Edge have granted around 2m to fund the initiative, which aims to attract 1,500 volunteers and launches in May.
A keyword search will enable young people to find a mentor based on their profile. The site logs the hours the mentor has put in and provides feedback ratings for their work.
Mary Teresa Rainey, founder and chairwoman of horsesmouth, said: "The site is an easy way for young people to give something back. It's not about professionals helping young people, it's about valuing young people's own experiences."
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