Dubbed the 'Mayor's Fare' the £1 concessions will go live from Tuesday 28 May.
It's hoped the move will encourage more young people to use the county's public transport system.
The initiative has been led by the Mayor of Cambridgeshire and Peterborough, Dr Nik Johnson.
Under the scheme, residents under 25-years-old will be able to apply for a special card enabling them to make use of the £1 journey rates.
It forms part of a longer-term plan which includes new routes and bus service improvements which could make using public transport much easier for commuters.
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