
<PAGE>

                                                                     EXHIBIT 4.8


                     NON-QUALIFIED STOCK OPTION AGREEMENT


          THIS AGREEMENT, dated [______________], 1996, is made by and between
Evergreen Media Corporation, a Delaware corporation hereinafter referred to as
"Company," and [_______________], an employee of the Company or a Parent
Corporation or Subsidiary of the Company, hereinafter referred to as "Optionee":

          WHEREAS, the Company wishes to afford the Optionee the opportunity to
purchase shares of its $.01 par value Class A Common Stock ("Common Stock"); and

          WHEREAS, the Company wishes to carry out the Plan (the terms of which
are hereby incorporated by reference and made a part of this Agreement); and

          WHEREAS, the Committee, appointed to administer the Plan, has
determined that it would be to the advantage and best interest of the Company
and its shareholders to grant the Non-Qualified Option provided for herein to
the Optionee as an inducement to enter into or remain in the service of the
Company, its Parent Corporations or its Subsidiaries and as an incentive for
increased efforts during such service, and has advised the Company thereof and
instructed the undersigned officers to issue said Option;

          NOW, THEREFORE, in consideration of the mutual covenants herein
contained and other good and valuable consideration, receipt of which is hereby
acknowledged, the parties hereto do hereby agree as follows:

                                   ARTICLE I

                                  DEFINITIONS
                                  -----------

          Whenever the following terms are used in this Agreement, they shall
have the meaning specified below unless the context clearly indicates to the
contrary.  The masculine pronoun shall include the feminine and neuter, and the
singular the plural, where the context so indicates.

Section 1.1 - Board
- -----------   -----

          "Board" shall mean the Board of Directors of the Company.

Section 1.2 - Code
- -----------   ----

          "Code" shall mean the Internal Revenue Code of 1986, as amended.

Section 1.3 - Committee
- -----------   ---------

          "Committee" shall mean the Stock Option Committee or the Compensation
Committee (discharging the functions of the Stock Option Committee) of the
Board, as applicable, appointed as provided in the Plan.
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Section 1.4 - Company
- -----------   -------

          "Company" shall mean Evergreen Media Corporation.  In addition,
"Company" shall mean any corporation assuming, or issuing new employee stock
options in substitution for, Incentive Stock Options (as defined in Section 1.8
of the Plan), outstanding under the Plan, in a transaction to which Section
424(a) of the Code applies.

Section 1.5 - Director
- -----------   --------

          "Director" shall mean a member of the Board.

Section 1.6 - Exchange Act
- -----------   ------------

          "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended.

Section 1.7 - Officer
- -----------   -------

          "Officer" shall mean an officer of the Company, as defined in Rule
16a-1(f) under the Exchange Act, as such Rule may be amended in the future.

Section 1.8 - Option
- -----------   ------

          "Option" shall mean the non-qualified option to purchase Common Stock
of the Company granted under this Agreement.

Section 1.9 - Parent Corporation
- -----------   ------------------

          "Parent Corporation" shall mean any corporation in an unbroken chain
of corporations ending with the Company if each of the corporations other than
the Company then owns stock possessing fifty percent (50%) or more of the total
combined voting power of all classes of stock in one (1) of the other
corporations in such chain.

Section 1.10 - Plan
- ------------   ----

          "Plan" shall mean the 1995 Stock Option Plan for Executive Officers
and Key Employees of Evergreen Media Corporation.

Section 1.11 - Rule 16b-3
- ------------   ----------

          "Rule 16b-3" shall mean that certain Rule 16b-3 under the Exchange
Act, as such Rule may be amended in the future.

Section 1.12 - Secretary
- ------------   ---------

          "Secretary" shall mean the Secretary of the Company.

                                       2
<PAGE>
 
Section 1.13 - Securities Act
- ------------   --------------

          "Securities Act" shall mean the Securities Act of 1933, as amended.

Section 1.14 - Subsidiary
- ------------   ----------

          "Subsidiary" shall mean any corporation in an unbroken chain of
corporations beginning with the Company if each of the corporations other than
the last corporation in the unbroken chain then owns stock possessing fifty
percent (50%) or more of the total combined voting power of all classes of stock
in one (1) of the other corporations in such chain.

Section 1.15 - Termination of Employment
- ------------   -------------------------

          "Termination of Employment" shall mean the time when the employee-
employer relationship between the Optionee and the Company, a Parent Corporation
or a Subsidiary is terminated for any reason, with or without cause, including,
but not by way of limitation, a termination by resignation, discharge, death or
retirement, but excluding any terminations where there is a simultaneous
reemployment by the Company, a Parent Corporation or a Subsidiary.  The
Committee, in its absolute discretion, shall determine the effect of all other
matters and questions relating to Termination of Employment, including, but not
by way of limitation, the question of whether a Termination of Employment
resulted from a discharge for good cause, and all questions of whether
particular leaves of absence constitute Terminations of Employment.

                                   ARTICLE II

                                GRANT OF OPTION
                                ---------------

Section 2.1 - Grant of Option
- -----------   ---------------

          In consideration of the Optionee's agreement to remain in the employ
of the Company, its Parent Corporations or its Subsidiaries and for other good
and valuable consideration, on the date hereof the Company irrevocably grants to
the Optionee the option to purchase any part or all of an aggregate of [_______]
shares of its Common Stock upon the terms and conditions set forth in this
Agreement.

Section 2.2 - Purchase Price
- -----------   --------------

          The purchase price of the shares of stock covered by the Option shall
be $[__.__] per share without commission or other charge.

Section 2.3 - Consideration to Company
- -----------   ------------------------

          In consideration of the granting of this Option by the Company, the
Optionee agrees to render faithful and efficient services to the Company, a
Parent Corporation or a Subsidiary, with such duties and responsibilities as the
Company shall from time to time

                                       3
<PAGE>
 
prescribe, for a period of at least one (1) year from the date this Option is
granted.  Nothing in this Agreement or in the Plan shall confer upon the
Optionee any right to continue in the employ of the Company, any Parent
Corporation or any Subsidiary or shall interfere with or restrict in any way the
rights of the Company, its Parent Corporations and its Subsidiaries, which are
hereby expressly reserved, to discharge the Optionee at any time for any reason
whatsoever, with or without cause.

Section 2.4 - Adjustments in Option
- -----------   ---------------------

          In the event that the outstanding shares of the stock subject to the
Option are changed into or exchanged for a different number or kind of shares of
the Company or other securities of the Company by reason of merger,
consolidation, recapitalization, reclassification, stock split up, stock
dividend or combination of shares, the Committee shall make an appropriate and
equitable adjustment in the number and kind of shares as to which the Option, or
portions thereof then unexercised, shall be exercisable, to the end that after
such event the Optionee's proportionate interest shall be maintained as before
the occurrence of such event.  Such adjustment in the Option shall be made
without change in the total price applicable to the unexercised portion of the
Option (except for any change in the aggregate price resulting from rounding-off
of share quantities or prices) and with any necessary corresponding adjustment
in the Option price per share.  Any such adjustment made by the Committee shall
be final and binding upon the Optionee, the Company and all other interested
persons.

                                  ARTICLE III

                            PERIOD OF EXERCISABILITY
                            ------------------------

Section 3.1 - Commencement of Exercisability
- -----------   ------------------------------

          The Option shall become exercisable on the first anniversary of the
date the Option is granted.

Section 3.2 - Duration of Exercisability
- -----------   --------------------------

          The Option, which becomes exercisable pursuant to Section 3.1, shall
remain exercisable until it becomes unexercisable under Section 3.3.

Section 3.3 - Expiration of Option
- -----------   --------------------

          The Option may not be exercised to any extent by anyone after the
first to occur of the following events:

          (a) The expiration of ten (10) years from the date the Option was
granted; or

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          (b) The time of the Optionee's Termination of Employment unless such
Termination of Employment results from his death, his retirement, his disability
or his being discharged not for good cause; or

          (c) The expiration of three (3) months from the date of the Optionee's
Termination of Employment by reason of his retirement or his being discharged
not for good cause, unless the Optionee dies within said three-month period; or

          (d) The expiration of one (1) year from the date of the Optionee's
Termination of Employment by reason of his disability; or

          (e) The expiration of one (1) year from the date of the Optionee's
death; or

          (f) The effective date of either the merger or consolidation of the
Company with or into another corporation, or the acquisition by another
corporation or person of all or substantially all of the Company's assets or
eighty percent (80%) or more of the Company's then outstanding voting stock, or
the liquidation or dissolution of the Company, unless the Committee waives this
provision in connection with such transaction.  At least ten (10) days prior to
the effective date of such merger, consolidation, acquisition, liquidation or
dissolution, the Committee shall give the Optionee notice of such event if the
Option has then neither been fully exercised nor become unexercisable under this
Section 3.3.

Section 3.4 - Acceleration of Exercisability
- -----------   ------------------------------

          In the event of the merger or consolidation of the Company with or
into another corporation, or the acquisition by another corporation or person of
all or substantially all of the Company's assets or eighty percent (80%) or more
of the Company's then outstanding voting stock, or the liquidation or
dissolution of the Company, the Committee may, in its absolute discretion and
upon such terms and conditions as it deems appropriate, provide by resolution,
adopted prior to such event and incorporated in the notice referred to in
Section 3.3(f), that at some time prior to the effective date of such event this
Option shall be exercisable as to all the shares covered hereby, notwithstanding
that this Option may not yet have become fully exercisable under Section 3.1;
provided, however, that this acceleration of exercisability shall not take place
if:

          (a) This Option becomes unexercisable under Section 3.3 prior to said
effective date; or

          (b) In connection with such an event, provision is made for an
assumption of this Option or a substitution therefor of a new option by an
employer corporation or a parent or subsidiary of such corporation.

          The Committee may make such determinations and adopt such rules and
conditions as it, in its absolute discretion, deems appropriate in connection
with such acceleration of exercisability, including, but not by way of
limitation, provisions to ensure

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that any such acceleration and resulting exercise shall be conditioned upon the
consummation of the contemplated corporate transaction.

                                   ARTICLE IV

                               EXERCISE OF OPTION
                               ------------------

Section 4.1 - Person Eligible to Exercise
- -----------   ---------------------------

          During the lifetime of the Optionee, only he may exercise the Option
or any portion thereof.  After the death of the Optionee, any exercisable
portion of the Option may, prior to the time when the Option becomes
unexercisable under Section 3.3, be exercised by his personal representative or
by any person empowered to do so under the Optionee's will or under the then
applicable laws of descent and distribution.

Section 4.2 - Partial Exercise
- -----------   ----------------

          Any exercisable portion of the Option or the entire Option, if then
wholly exercisable, may be exercised in whole or in part at any time prior to
the time when the Option or portion thereof becomes unexercisable under Section
3.3; provided, however, that each partial exercise shall be for not less than
two hundred (200) shares and shall be for whole shares only.

Section 4.3 - Manner of Exercise
- -----------   ------------------

          The Option, or any exercisable portion thereof, may be exercised
solely by delivery to the Secretary or his office of all of the following prior
to the time when the Option or such portion becomes unexercisable under Section
3.3:

          (a)  Notice in writing signed by the Optionee or the other person then
entitled to exercise the Option or portion, stating that the Option or portion
is thereby exercised, such notice complying with all applicable rules
established by the Committee; and

          (b)  (i)  Full payment (in cash or by check) for the shares with
     respect to which such Option or portion is exercised; or

               (ii)  With the consent of the Committee, (A) shares of the
     Company's Common Stock owned by the Optionee duly endorsed for transfer to
     the Company or (B) subject to the timing requirements of Section 4.4,
     shares of the Company's Common Stock issuable to the Optionee upon exercise
     of the Option, with a fair market value (as determined under Section 4.2(b)
     of the Plan) on the date of Option exercise equal to the aggregate purchase
     price of the shares with respect to which such Option or portion is
     exercised; or

               (iii)  With the consent of the Committee, a full recourse
     promissory note bearing interest (at no less than such rate as shall then
     preclude the imputation of

                                       6
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     interest under the Code or successor provision) and payable upon such terms
     as may be prescribed by the Committee.  The Committee may also prescribe
     the form of such note and the security to be given for such note.  The
     Option may not be exercised, however, by delivery of a promissory note or
     by a loan from the Company when or where such loan or other extension of
     credit is prohibited by law; or

               (iv)  With the consent of the Committee, any combination of the
     consideration provided in the foregoing subparagraphs (i), (ii) and (iii);
     and

          (c)  A bona fide written representation and agreement, in a form
satisfactory to the Committee, signed by the Optionee or other person then
entitled to exercise such Option or portion, stating that the shares of stock
are being acquired for his own account, for investment and without any present
intention of distributing or reselling said shares or any of them except as may
be permitted under the Securities Act and then applicable rules and regulations
thereunder, and that the Optionee or other person then entitled to exercise such
Option or portion will indemnify the Company against and hold it free and
harmless from any loss, damage, expense or liability resulting to the Company if
any sale or distribution of the shares by such person is contrary to the
representation and agreement referred to above.  The Committee may, in its
absolute discretion, take whatever additional actions it deems appropriate to
insure the observance and performance of such representation and agreement and
to effect compliance with the Securities Act and any other federal or state
securities laws or regulations.  Without limiting the generality of the
foregoing, the Committee may require an opinion of counsel acceptable to it to
the effect that any subsequent transfer of shares acquired on an Option exercise
does not violate the Securities Act, and may issue stop-transfer orders covering
such shares.  Share certificates evidencing stock issued on exercise of this
Option shall bear an appropriate legend referring to the provisions of this
subsection (c) and the agreements herein.  The written representation and
agreement referred to in the first sentence of this subsection (c) shall,
however, not be required if the shares to be issued pursuant to such exercise
have been registered under the Securities Act, and such registration is then
effective in respect of such shares; and

          (d)  Full payment to the Company (or other employer corporation) of
all amounts which, under federal, state or local tax law, it is required to
withhold upon exercise of the Option; with the consent of the Committee, (i)
shares of the Company's Common Stock owned by the Optionee duly endorsed for
transfer, or (ii) subject to the timing requirements of Section 4.4, shares of
the Company's Common Stock issuable to the Optionee upon exercise of the Option,
valued in accordance with Section 4.2(b) of the Plan at the date of Option
exercise, may be used to make all or part of such payment; and

          (e)  In the event the Option or portion shall be exercised pursuant to
Section 4.1 by any person or persons other than the Optionee, appropriate proof
of the right of such person or persons to exercise the Option.

                                       7
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Section 4.4 - Certain Timing Requirements
- -----------   ---------------------------

          Shares of the Company's Common Stock issuable to the Optionee upon
exercise of the Option may be used to satisfy the Option price or the tax
withholding consequences of such exercise only (i) during the period beginning
on the third (3rd) business day following the date of release of the quarterly
or annual summary statement of sales and earnings of the Company and ending on
the twelfth (12th) business day following such date or (ii) pursuant to an
irrevocable written election by the Optionee to use shares of the Company's
Common Stock issuable to the Optionee upon exercise of the Option to pay all or
part of the Option price or the withholding taxes (subject to the approval of
the Committee) made at least six (6) months prior to the payment of such Option
price or withholding taxes.

Section 4.5 - Conditions to Issuance of Stock Certificates
- -----------   --------------------------------------------

          The shares of stock deliverable upon the exercise of the Option, or
any portion thereof, may be either previously authorized but unissued shares or
issued shares which have then been reacquired by the Company.  Such shares shall
be fully paid and nonassessable.  The Company shall not be required to issue or
deliver any certificate or certificates for shares of stock purchased upon the
exercise of the Option or portion thereof prior to fulfillment of all of the
following conditions:

          (a)  The admission of such shares to listing on all stock exchanges on
which such class of stock is then listed; and

          (b)  The completion of any registration or other qualification of such
shares under any state or federal law or under rulings or regulations of the
Securities and Exchange Commission or of any other governmental regulatory body,
which the Committee shall, in its absolute discretion, deem necessary or
advisable; and

          (c)  The obtaining of any approval or other clearance from any state
or federal governmental agency which the Committee shall, in its absolute
discretion, determine to be necessary or advisable; and

          (d)  The payment to the Company (or other employer corporation) of all
amounts which, under federal, state or local tax law, it is required to withhold
upon exercise of the Option; and

          (e)  The lapse of such reasonable period of time following the
exercise of the Option as the Committee may from time to time establish for
reasons of administrative convenience.

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<PAGE>
 
Section 4.6 - Rights as Stockholder
- -----------   ---------------------

          The holder of the Option shall not be, nor have any of the rights or
privileges of, a stockholder of the Company in respect of any shares of stock
purchasable upon the exercise of any part of the Option unless and until
certificates representing such shares shall have been issued by the Company to
such holder.

                                   ARTICLE V

                                OTHER PROVISIONS
                                ----------------

Section 5.1 - Administration
- -----------   --------------

          The Committee shall have the power to interpret the Plan and this
Agreement and to adopt such rules for the administration, interpretation and
application of the Plan as are consistent therewith and to interpret or revoke
any such rules.  All actions taken and all interpretations and determinations
made by the Committee in good faith shall be final and binding upon the
Optionee, the Company and all other interested persons.  No member of the
Committee shall be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan or the Option.  The
Board shall have no right to exercise any of the rights or duties of the
Committee under the Plan and this Agreement.

Section 5.2 - Option Not Transferable
- -----------   -----------------------

          Neither the Option nor any interest or right therein or part thereof
shall be liable for the debts, contracts or engagements of the Optionee or his
successors in interest or shall be subject to disposition by transfer,
alienation, anticipation, pledge, encumbrance, assignment or any other means
whether such disposition be voluntary or involuntary or by operation of law by
judgment, levy, attachment, garnishment or any other legal or equitable
proceedings (including bankruptcy), and any attempted disposition thereof shall
be null and void and of no effect; provided, however, that this Section 5.2
shall not prevent transfers by will or by the applicable laws of descent and
distribution.

Section 5.3 - Shares to Be Reserved
- -----------   ---------------------

          The Company shall at all times during the term of the Option reserve
and keep available such number of shares of stock as will be sufficient to
satisfy the requirements of this Agreement.

Section 5.4 - Notices
- -----------   -------

          Any notice to be given under the terms of this Agreement to the
Company shall be addressed to the Company in care of its Secretary, and any
notice to be given to the Optionee shall be addressed to him at the address
given beneath his signature hereto.  By a notice given pursuant to this Section
5.4, either party may hereafter designate a different

                                       9
<PAGE>
 
address for notices to be given to him.  Any notice which is required to be
given to the Optionee shall, if the Optionee is then deceased, be given to the
Optionee's personal representative if such representative has previously
informed the Company of his status and address by written notice under this
Section 5.4.  Any notice shall be deemed duly given when enclosed in a properly
sealed envelope or wrapper addressed as aforesaid, deposited (with postage
prepaid) in a post office or branch post office regularly maintained by the
United States Postal Service.

Section 5.5 - Titles
- -----------   ------

          Titles are provided herein for convenience only and are not to serve
as a basis for interpretation or construction of this Agreement.

Section 5.6 - [Intentionally Omitted]
- -----------    --------------------- 


Section 5.7 - Construction
- -----------   ------------

          This Agreement shall be administered, interpreted and enforced under
the laws of the State of Delaware.

Section 5.8 - Conformity to Securities Laws
- -----------   -----------------------------

          The Optionee acknowledges that the Plan is intended to conform to the
extent necessary with all provisions of the Securities Act and the Exchange Act
and any and all regulations and rules promulgated by the Securities and Exchange
Commission thereunder, including without limitation Rule 16b-3.  Notwithstanding
anything herein to the contrary, the Plan shall be administered, and the Option
is granted and may be exercised, only in such a manner as to conform to such
laws, rules and regulations.  To the extent permitted by applicable law, the
Plan and this Agreement shall be deemed amended to the extent necessary to
conform to such laws, rules and regulations.

Section 5.9 - Restrictions on Transfer of Shares
- -----------   ----------------------------------

          Notwithstanding any other provision of this Agreement, no shares of
Common Stock acquired upon exercise of the Option, or any portion thereof, may
be sold, assigned, pledged, encumbered or otherwise transferred until at least
six (6) months and one (1) day have elapsed from the date hereof.

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<PAGE>
 
          IN WITNESS WHEREOF, this Agreement has been executed and delivered by
the parties hereto.


                                                 EVERGREEN MEDIA CORPORATION


                                             By:___________________________
                                                   Scott K. Ginsburg
                                                   Chief Executive Officer

                                             By:___________________________
                                                   Matthew E. Devine
                                                   Secretary



____________________________
          Optionee

____________________________

____________________________
          Address

Optionee's Taxpayer
Identification Number:

____________________________

                                       11
