Shawn Seesahai died when he was fatally stabbed in Wolverhampton on Monday evening. The boys were arrested a day later.
The pair, who cannot be named due to their age, are set to appear before Birmingham Magistrates' Court on Friday.
Mr Seesahai's mother has described her son as a "courageous, compassionate and confident young soul".
The boys have also been charged with possession of a bladed article.
West Midlands Police said the incident happened on open land off Laburnum Road shortly before 20:30 GMT on Monday.
The force added patrols in the area were continuing to offer reassurance to the public.
In a tribute issued through the police earlier on Thursday, Mr Seesahai's mother, who was not named, said her son was a "generous person" who had a "good personality".
"He was looking forward to accomplish many future plans and ambitions," she said.
"We will always have him in our hearts."
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Two boys aged 12 have been charged with murdering a 19-year-old man.