It is the third game in the World Heroes series (and a heavily-revised version of World Heroes 2), adding two new playable characters (both serving as the servants to the new mysterious final boss) and replacing the Death Match mode with two new single-player campaigns: the prologue "Forging of Warriors" mode (where players select five opponents to fight against, with no score kept) and the main "Entry to the Tournament" mode (featuring preliminary matches against groups of three, similar to the King of Fighters series).
Along with new techniques (such as the ability to dash forward and backward), the game features an enhanced Versus Mode, where players can pick from one of four different playstyles: balanced, high offensive strength, high defensive power, and high movement speed.
Along with a release for the Neo Geo AES (on June 10, 1994), the game was ported to the Neo Geo CD (complete with an arranged soundtrack) on November 11, 1994 exclusively in Japan (oddly enough, it was released before the ports of the first two games). It was also ported to the Game Boy in 1995 (February in Japan and August in North America) by TAKARA as part of their Nettou series. The original game was digitally re-released by D4 for the Wii (via Virtual Console) on February 14, 2013 and was also included in the 2008 World Heroes Anthology compilation for the PlayStation 2.
- Jack (U.K., based on the 19th century serial killer Jack the Ripper)
- Ryofu (China, based on the 2nd century warlord Lü Bu)
- Zeus (likely inspired by the antagonists of the Fist of the North Star series, only playable in the GB version with a cheat code)