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The 17-year-old, who cannot be identified for legal reasons, made his first appearance in Northampton Magistrates Court on charges of killing Rayon Pennycook in Corby on Tuesday.
Northamptonshire Police said two boys, ages 15 and 17, were also released on bail pending further investigations.
The force launched a murder investigation after Rayon was stabbed to death on Constable Road Tuesday night.
The East Midlands Ambulance Service (EMAS) said he was called to a private address in the city at 6.57pm after reports of a medical emergency.
Two paramedics were dispatched in ambulance cars, two manned ambulances and the air ambulance, but the victim died at the scene.
The 11-year-old student is believed to have been visiting a friend’s home when he was fatally stabbed.
Rayon’s family said they were “devastated” in a statement issued earlier this week.
They added: “In fact, there are no words that can accurately describe the pain we are experiencing. It is unbearable. He was just a kid, a 16-year-old boy with his whole life ahead of him.
“He had hopes, dreams and aspirations, and he was in the process of applying for an apprenticeship, which would have seen him begin the next chapter of his young life.
“The rayon is not a statistic and it will not be remembered as such; He was a unique human being with a beating heart who was loved so much by his mom, dad, siblings, niece, nephew, and friends.
“Rayon had a big heart and made it clear every day how much he loved us all.
“Rayon Pennycook was a bright, caring and creative young man who built strong relationships with many members of our student community and Corby Business Academy faculty.
“This tragic news will surprise many people in the school community and Rayon will be greatly missed.”
The 11th-year student was understood to be visiting a friend’s home when he was stabbed to death.