European Commission President Ursula von der Leyen announced the proposal during her State of the Union address, saying it was "time for Europe to Act".
The proposed Kids Act would take a "gradual and differentiated approach" depending on a young person’s age.
Under the plans, children under 13 would be banned from accessing social media platforms.
Those aged between 13 and 15 would instead be allowed to use "mini accounts" set up and supervised by their parents, with limited features and time restrictions.
For teenagers aged 15 to 18, platforms would be required to introduce "safe design" measures.
Ms von der Leyen said the EU had examined Australia’s approach, which became the first country to introduce a minimum age for social media use.
She said: "What we are witnessing is a great capture of our children. A capture of their attention, their focus, their minds."
"This is depriving children of their childhood," she added, saying young people need "time to grow into themselves, to grow up with others".
Ms von der Leyen also pointed to concerns around the impact of smartphones and social media on children’s wellbeing.
"When a child has a smartphone, all of this is taken away," she said.
"Day and night, parents see the cost: loss of sleep, anxiety, even self-harm."
The Commission president acknowledged that many people believe the influence of big technology companies is too powerful to reverse.
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However, she said Europe did not have to accept the way social media platforms currently operate.
"We do not have to accept addictive features," she said. "We do not have to accept children being drawn into ever more extreme content."
She also highlighted concerns around artificial intelligence, saying, "We do not have to accept that girls have their photos used for AI-generated sexualised images."
Ms von der Leyen said social media platforms would "have to prove they are safe".
"Because it is not about our minors accessing social media. It is about when and how do we allow social media to access minors," she said.
"Europe has the power to act. It is us who decide our rules, not big tech."
The Commission president also used her address to discuss the growing use of artificial intelligence, describing it as one of the "tipping points" of the current era.
She said AI presented a "balance of possibilities and risks", warning that the potential benefits could not be fully realized without addressing its dangers.
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Ms von der Leyen said concerns around self-improving AI models were becoming increasingly apparent.
"Incidents of AI agents escaping their environment or inserting malicious code are a glimpse," she said.
"After the HuggingFace incident, developers are ringing the alarm."
She also said chief executives at some of the world’s most advanced AI companies had called for greater caution around self-recursive models.
Ms von der Leyen said the EU’s AI Act would provide ‘guardrails’ and put Europe in a position to help shape international efforts around AI safety.
The EU will also work with Canada, the UK, and other countries on areas including model evaluation, verification, early-warning systems, and AI security.
* This article was originally published on Extra.ie.