The talented 17-year-old, also known as MDot, was stabbed in New Cross, south London on the evening of Sunday, April 3 and died later that day in hospital.
The teenager charged with his murder will appear at Bromley Magistrates' Court on Saturday, the Metropolitan Police said.
Detectives investigating the fatal stabbing have also bailed a 16-year-old boy and a 19-year-old man arrested on suspicion of murder on Thursday April 7.
Two other teenagers previously arrested on suspicion of murder, a 16-year-old boy and a 15-year-old boy, have been bailed to return on dates in mid and late May.
Tributes were paid to Myron by his friend Jay Thomas, who took part in fundraising to help Myron's family with funeral costs.
He said: “He had a lot of friends and everybody knew who he was.
“We were good friends, I met him through his music and had been to a lot of his performances.
“His main focus was music and his goals were always to make it in music.”