Waynesboro police charged the unnamed older teen with aggravated assault and possession of a firearm during the commission of a crime, Investigator Gene Boseman said.
The victim was in critical condition in intensive care at Medical College of Georgia Hospital, where he was airlifted after being stabilized at a Waynesboro hospital, Boseman said.
The 14-year-old Waynesboro boy shouldn't have been out because he had been under a curfew since his recent release from the Augusta Regional Youth Detention Center, Boseman said.
Police had ordered a teen party at a public senior citizens' facility to disperse after determining it had inadequate security.
Boseman said the crowd of mostly teenagers then moved to Pecan Grove, an area of modular homes.
The party was ordered to disperse again, then headed to Magnolia Avenue, then to an area at the intersection of Cedar and Ward streets in Waynesboro, where the shooting took place about 1 a.m.
The suspect's charges might be upgraded if the victim's condition worsens, and additional arrests might be pending in the incident, Boseman said.
Agents of the Georgia Bureau of Investigation are assisting Waynesboro police with the investigation.