The Platinum Games-developed brawler was originally due to be released this year, before being delayed until January 2012.
According to CVG, the game will now launch on July 3 in North America and July 6 in Europe.
Sega's Gary Knight said: "Anarchy Reigns brings a new take to the brawler genre and we've decided to take a little more time to deliver the full knockout punch.
"I can't reveal much now, but it's something to do with scale. Let's just say traditional one on one or two versus two fighters will be a thing of the past..."
Anarchy Reigns sees players compete in arena-based combat scenarios in online and local multiplayer.
The game will feature characters from Wii title Madworld, and game modes such as Battle Royale and Tag Team.
Anarchy Reigns will be released for the Xbox 360 and PS3.