If I find a song that I think my friend will like it, I know I can say

"It's song for you"

However, can I say "It's your song" instead? Will it mean that the song is written or owned by my friend, which is definitely not what I mean.

kenny1999 I know I can say"It's song for you"

No, you can't. I guess you made a typo: "It's a song for you." Even that is not natural in the meaning you want.

kenny1999However, can I say "It's your song" instead?

No, as you realized. You might say "It's your kind of song."