Multiple sources have told Kotaku that the game will be released on November 8, as previous rumours have suggested.
Following on moments after the events of Modern Warfare 2, the game's story will see players travel the world as both returning and all-new characters, including a Russian agent, SAS operative and AC-130 gunner.
The 15-mission-long campaign will start with an invasion of Manhattan by the Russian army, and later cover Dubai, London, Paris, India and Sierra Leone.
Story presentation similar to previous games in the series, with short story sequences and regular cuts to new locations. Playable vehicular segments will include tanks and an AC-130 gunship.
Co-operative mode Spec Ops will return with two mission types, Survival and Mission, while the online multiplayer component will feature a "chunky list" of maps.
The title has been co-developed by Infinity Ward, Sledgehammer Games and Raven Software, with the game largely complete and finishing touches now being applied.
While Activision has yet to officially announce the game, it recently told investors that a new Call of Duty title would be revealed in the coming weeks.
Earlier this week, Modern Warfare 3's logo and cover art were reportedly leaked, as well as suggestions of destructible environments.
Call of Duty: Modern Warfare 3 is expected for release on Xbox 360, PlayStation 3 and PC.
View the logos and cover art for Call of Duty: Modern Warfare 3 below: