A system for mounting wall panels to an existing wall, includes a plurality of elongated mounting tracks, each mounting track including a base wall adapted to be secured to the existing wall, an upwardly opening L-shaped hanger supporting wall extending forwardly from the base wall, and an upwardly opening L-shaped hanger stabilizing wall extending forwardly from the base wall in spaced relation from the hanger mounting wall. A plurality of mounting hangers are provided, each mounting hanger including a wall panel securing wall adapted to be secured to a wall panel, a downwardly opening L-shaped hanger mounting wall extending rearwardly from the wall panel securing wall and adapted to be hung on the hanger supporting wall, and a hanger retaining wall extending from the wall panel securing wall and adapted to engage with the hanger stabilizing wall.