The continuation of the Remedy Entertainment series will be available on Xbox 360, PlayStation 3 and PC in March 2012.
Developed in-house across several Rockstar Games studios, it will feature a new iteration of the firm's Advanced Game Engine, as well as an intelligent cover system and the return of Bullet Time.
As well as the single-player campaign, Max Payne 3 will see the addition of online multiplayer, complete with map and modes that dynamically change within a match, as well as reward, ranking and clan systems.
Max Payne 3 will see the titular character begin a new life as a private security contractor in Sao Paulo, Brazil.
When the family he protects becomes a target for criminal gangs, Max must fight for their lives and defeat demons from his tortured past.
"Max Payne 3 gave us an amazing creative opportunity to evolve one of our most iconic characters," said Rockstar Games founder Sam Houser.
"We're excited to show fans a modern version of Max that pulls them back into his dark and twisted story."
Max Payne 3 will also be joined by an HD remake of the original game for mobile devices, complete with Rockstar Games Social Club support.
Earlier this year, Rockstar Games released detective adventure title LA Noire for Xbox 360 and PlayStation 3.
> Max Payne 3 new screenshots released