Created by Monkey Island and Deathspank director Ron Gilbert, The Cave will release as a digital download for the Xbox 360, PS3 and PC in 2013.
The game's official announcement is accompanied by a trailer, showcasing the puzzling platform gameplay.
The underground adventure game sees players assemble three characters, each with their own unique skills and abilities, to tackle locations as diverse as a subterranean amusement park and a medieval castle.
"The concept of The Cave has been bouncing around in my head for many, many years, and then the little voices that tell me to do things said it was time to make the game," explained Ron Gilbert.
"I'm thrilled to be working with amazingly talented folks at Double Fine and ecstatic that the team at Sega believes in adventure games and quirky ideas," he added.
Double Fine filed a trademark for The Cave earlier this year.
The discovery of the trademark coincided with the Kickstarter campaign for Double Fine Adventure, although the two games are not linked.
Double Fine Adventure broke Kickstarter records for the highest revenue in 24 hours, as well as highest number of supporters.
It went on to raise more than $3m in public funding, a record that has since been passed by the Pebble Smartwatch.