The game stars a devil rabbit named Ash who must travel through hell to get revenge on his archenemy, Fat Rabbit, for posting his secret sex pictures on the internet.
Ash will navigate Hell and fight demons using a drill, which more closely resembles a spinning saw blade. A range of customisable weapons will also be at Ash's disposal.
The game was teased by Sega last year, and is being developed by Arkedo, the studio behind Nintendo DS titles Big Bang Mini and Nervous Brickdown.
Hell Yeah! Wrath of the Dead Rabbit! will be available this year on Xbox Live Arcade, PlayStation Network and PC.
Watch the debut trailer for Hell Yeah! Wrath of the Dead Rabbit! below: