The 123,000 boat, called Achieving Together, will be launched on 3 April.
Supported by the National Lottery's Community Fund, Serious Fun targets young people who have had recent involvement with the police and youth justice system, as well as the long-term unemployed or those with low self-esteem.
Dave Norman, project manager for Serious Fun, said: "We are trying to give opportunities to young people who don't get them. They can get qualifications and earn self-respect."
The 17m vessel will be based at Snaygill Boatyard in Skipton and tour Leeds and Liverpool Canal. It will have a lifting plate and joystick so that young people with disabilities can steer it.
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