The recommended treatment for psychosis in adolescents is antipsychotic medication combined with psychosocial interventions. However, the evidence base for especially psychosocial interventions is limited. Compared to adults, fewer antipsychotic medications have been approved for use in youth, who also have a higher risk of a less beneficial response and more side effects. Second-generation antipsychotics are recommended as the first pharmacological choice due to a lower risk of neuromotor and cardiac side effects compared to first-generation antipsychotics. Nevertheless, most second-generation antipsychotics show metabolic side effects. It is recommended that the psychosocial treatment should be managed by a multidisciplinary team working within a specialized early intervention model with focus on: (1) individual and family resources and resilience; (2) individualizing and adjusting the intervention; (3) managing associated comorbidities; (4) ensuring coherence in treatment course and collaborations with social and educational services.