Future time perspective is a personality trait that involves people’s thoughts, feelings, and actions related to their futures. However, no multidimensional measures of future time perspective have been developed within Chinese cultural context. This study examined the structure of future time perspective by developing and validating a Future Time Perspective Scale for Adolescents and Young Adults in middle school and college student samples. Exploratory and confirmatory factor analyses resulted in a final measure that included 28 items loading onto six factors: Future-negative, future-positive, future-confusion, future-perseverant, future-perspicuity, and future-planning. The six-factor structure with high reliability and strong patterns of validity estimates was established. Future Time Perspective Scale for Adolescents and Young Adults will be useful in studies testing adolescents’ and young adults’ future time perspective. Future directions for the study of future time perspective in adolescents and young adults and limitations of the current study were discussed.