From the Source:
YOUNG JUSTICE is an all-new series produced by Warner Bros. Animation and based upon the characters from DC Comics. In YOUNG JUSTICE, being a teenager means proving yourself over and over – to peers, parents, teachers, mentors and, ultimately, to yourself. But what if you’re not just a normal teenager? What if you’re a teenage super hero? How much harder will it be to prove yourself in a world of super powers, super villains and super secrets? Are you ready to come of age in such a world? Are you ready for life or death rites of passage? Are you ready to join the ranks of the great heroes and prove you’re worthy of the Justice League? The members of Young Justice—Robin, Aqualad, Kid Flash, Superboy, Miss Martian and Artemis—are about to find out.
They also announced a "animated sketch-comedy series" based on Mad Magazine.
Update: The Source has added some official artwork for the series.