Like Parker, Miles is a brainy, good-natured teen from the outer boroughs -- but that's about where the similarities end.
While Peter Parker was an orphan raised by his aunt and uncle in Forest Hills, Morales' parents are still alive and live in a yet-to-be-determined Brooklyn neighborhood.
AP/Marvel Comics Miles Morales
"What you have is a Spider-Man for the 21st century who's reflective of our culture and diversity," said Marvel Editor in Chief Axel Alonso.
"We think that readers will fall in love with Miles Morales the same way they fell in love with Peter Parker," he added.
The origin of the new Spidey's powers will be revealed when he gets his very own series, starting on Sept. 14, called "Ultimate Comics Spider-Man."
The new story unfolds in Marvel's "Ultimate" universe, which the publisher launched in 2000 to tell modern stories.
Spidey received a new origin and a re-imagined supporting cast that paralleled the web-slinger featured in the regular Marvel continuity -- who remains very much alive.