pesto without the cheese and garlic (they taste icky after being frozen) and freeze in ice cube trays, then pop out into a zip lock bag. Make sure your family likes pesto first.

Basil freezes really well. I learned this from a sicilian man who owns a pizza place near me. I don't do anything to it, just pluck the leaves and put them in a freezer bag. I found a bag in my freezer that was two years old and it was still very fragrant.

I have had success processing the leaves and then preserving with a little olive oil - in addition to freezing in larger containers, large ice cube trays work really well.

This blog has a cool technique -- the oil seems to protect the leaves from oxidizing: http://bit.ly/SoyUZ

Check out the herb society's website: they have a neat idea of how to preserve fresh basil in salt.

http://www.herbsociety.org/herbs/profiles-and-guides.html