Basically any fertile soil will grow Basil. I have grown it successfully in a pot containing only regular potting soil but you can also grow it in a pot of general purpose compost. If you grow it in the ground be sure the soil is well dug for air circulation and add some well rotted compost or manure a few days before planting.
Toni is right. I used regular potting soil with 5 plants in one pot. They're root-packed like crazy, but still tall, green and proud. I think the standard ph level is around 6.0 for basil (slightly acidic). I use all-purpose organic fertilizer, about 1/2 the recommended amount, every 6 weeks. Too much fertilizer will decrease the flavor/fragrance. Compost would probably work better, it's much harder to "over-do". Be sure your planter has good drainage. Line the bottom with a few inches of gravel and/or coarse sand. The best was to get big, bushy, tasty plants is to prune often. Pinch off flower buds long before they bloom for optimum yumminess... but you don't have to worry about that for a bit. Are you starting from seed?
It is possible, and apparently fairly easy, to grow basil from cuttings. I've read quite a few different methods, so it might be best to google it and try several. See which one works best for you. Glad you're giving my favorite herb a shot, I'm sure you won't be dissapointed!
