Tu B'Shvat is the new year for the Trees.

The custom on Tu B'Shvat is to eat fruits from the seven species for which the Land of Israel is praised: ...a land of wheat and barley and (grape) vines and fig trees and pomegranates, a land of olive trees and (date) honey (Deut. 8:8).

Kabbalistic tradition even includes a mystical Tu B'Shvat seder service, where the inner dimensions of fruits are expounded, along with blessings, songs and deep discussion.

The proper blessing before eating any fruit is:

Baruch Atah Adod-nai Elohai-nu Melech HaOlam boray pri ha-aitz.

Blessed are you God, King of the Universe, Who creates the fruit of the tree.

On Tu B'Shvat, it is also customary to eat a new fruit (a seasonal fruit that you have not yet tasted this season), and to say the following blessing:

Baruch Atah Ado-noi, Elohai-nu Melech HaOlam, sheh-he-che-yanu vi-kee-yimanu vi-hee-gee-yanu laz-man ha-zeh.

Blessed are You God, King of the Universe, Who has kept us alive, sustained us, and brought us to this season.