File photo of a screen displaying logos of Facebook taken in Buenos Aires. AFP/Juan Mabromata
The feature is being rolled out globally and comes less than four months after Facebook began letting members pay to have personal posts get
priority in feeds seen by friends.
"Now, in addition to promoting your own posts, you can promote a friend's post, such as a fundraising or celebration announcement," Facebook said in a blog post.
"It's important to know that this feature respects the privacy of the original poster - it will promote to everyone who originally saw it."
A list of popular use cases included spotlighting a friend's efforts to raise money for charity; a move to a new city, or accomplishments such as job promotions or college graduations.
The feature is only available for people with fewer than 5,000 friends at the social network, according to Facebook.
The California-based firm has been seeking new ways to generate revenue since it made a dismal stock market debut in May of last year.
Shares sank after making a debut at $38 dollars but have regained some of the ground, trading at $28.21 on the Nasdaq exchange mid-day Friday.