More specifically, Jesus is God's "Only Begotten" Son, which isn't to say He is God's favorite child, as God doesn't play favorites, but that Jesus was specially selected to pave the way for all of us, and set the perfect example that could only be set by one with Godhood in his veins.
With God as a Father and Mary as a mother, Christ was able to perform certain tasks that could not be performed by any mortal man. In His unique position, Christ is qualified to advocate with the Father on our behalf. He was able to offer himself, a blameless sacrifice for our sins and suffering. And lastly, being more-than-mortal, our Savior Jesus Christ was able to conquer even death, by dying and resurrecting on the third day.
I testify that Jesus is our Elder Brother, and that he truly is the Son of God. I know that He has the ability to strengthen us all and buoy us up, that His love can cure any ill, fix any problem, and mend any heart. I so say in His beloved name, Jesus Christ-- Amen.
13 When Jesus came into the coasts of Cæsarea Philippi, he asked his disciples, saying, Whom do men say that I the Son of man am?
14 And they said, Some say that thou art John the Baptist: some, Elias; and others, Jeremias, or one of the prophets.
15 He saith unto them, But whom say ye that I am?
16 And Simon Peter answered and said, Thou art the Christ, the Son of the living God.
17 And Jesus answered and said unto him, Blessed art thou, Simon Bar-jona: for flesh and blood hath not revealed it unto thee, but my Father which is in heaven.