Jobs Growth Wales helps firms employ 16-24 year olds for six months by covering the cost of the minimum wage.
The Tories aim to replace it with a scheme called Journeys to Work, open to all ages, with jobs lasting for a year.
Deputy Skills Minister Julie James claimed it was a "ringing endorsement" of Jobs Growth Wales, saying a new scheme was planned for all adults.
Labour has hailed Jobs Growth Wales - which is part funded with EU money - a big success that has exceeded its targets on the number of jobs created.
However, a review in 2014 found nearly three-quarters of participants would have found work anyway.
In July, a committee of assembly members urged ministers to consider designing a similar scheme for the over-50s.
Welsh Conservative leader Andrew RT Davies said: "Labour's age cap on job creation offers nothing to the many thousands of over-25s that want to get on and build a career for themselves.
"Not only does this sell hardworking people short, it's contributing to the acute skills shortage which is holding the Welsh economy back."
The party said it would work with employers to make sure the jobs created lasted longer.
But with no extra funding, the money spent on each job would be cut from the current average of Â£4,211 to Â£3,000.
The announcement is part of a set of policies the Tories call Stronger Futures Cymru.
They say they would work with businesses, schools and colleges to promote apprenticeships to students, and encourage schools to forge closer links with businesses in their communities.
Responding for the Welsh government, Ms James said: "They say imitation is the sincerest form of flattery and I welcome this ringing endorsement of our flagship skills policies.
"It is particularly pleasing that they are so popular that the opposition seek not only to continue them, but to extend them too."
Ms James also confirmed plans to introduce a new scheme - Skills for Employment Wales - in April 2016 which would be open to all adults looking for work.
Plaid Cymru's education spokesman Simon Thomas said: "The Conservatives' cynical plans will make it more difficult for young people to gain access to employment.
"Pitting older people against younger people is counter-productive and creates unnecessary divides."

The decision means all working cameras on England's motorways and major trunk roads will be yellow by October next year.
Highways England confirmed the plan after ministers ordered a review into speed camera policy this year.
There are about 200 camera sites on England's motorways.
Transport Secretary Patrick McLoughlin said: "I've always been clear that cameras should be visible and get used for safety rather than revenue raising.
"This move is about applying common sense to our roads. Speed cameras should make journeys safer rather than lead to dangerous braking."
Grey cameras were first introduced on the M42 near Birmingham in 2006, following the introduction of variable speed limits.
Highways England chief executive Jim O'Sullivan said: "We use cameras for safety and traffic management only when other more popular solutions, like engineering, are not adequate to tackle particular problems on our network."
The Department for Transport (DfT) said the majority of colour changes will take place during the standard renewal of camera units to minimise costs.
Councils and police forces are required to publish information on the safety impact of speed cameras on local roads.  DfT guidance states these cameras should be yellow.

Aldershot nearly led before the break when Rhys Browne set up Lafayette but Marek Rodak saved and Charlie Walker failed to score on the rebound.
The visitors kept pressuring as Jake Gallagher and Jim Stevenson forced Rodak into further saves.
Victory for the Shots was sealed when Rodak brought down Lafayette and he scored from the spot on 76 minutes.
Aldershot Town boss Barry Smith told BBC Surrey:
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"You know it was a very scrappy game and Welling gave us a lot of problems in the first-half.
"I thought at half time we upped our levels and we caused them problems in the second half and I think we deserved to win the game.
"I've got confidence in the strikers and confidence in players who can score and it was a matter of time. Their keeper made some terrific saves, but you've got to keep believing like we've done this season."
Age restrictions on a flagship job creation scheme will be lifted by the Welsh Conservatives if they win power.
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Grey speed cameras will be turned yellow in a bid to make them more visible and reduce incidents of sudden braking, the government has announced.
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Ross Lafayette scored a second-half penalty to seal all three points for Aldershot Town as they beat Welling.