The mascot fighting game will arrive on PlayStation 3 and Vita on October 23 in North America and on October 24 across Europe.
Users who pre-order the title will also receive a bonus of an exclusive additional costume for every character in the game.
Eight characters from the game's roster have been announced so far including Fat Princess, Sly Cooper, Colonel Radec from Killzone, Parappa the Rapper, Kratos from God of War, Nathan Drake from Uncharted, Sweet Tooth from Twisted Metal and the Big Daddy from Bioshock.
Sony will announce two more characters during the EVO 2012 event in Las Vegas this weekend.
Street Fighter advisor Seth Killian recently left Capcom in order to join Sony Santa Monica as the lead game designer for PlayStation All-Stars Battle Royale.
The game will offer single-player and multiplayer modes - including support for up to four players locally - cross-platform play between PS3 and Vita and a number of online tournament options.
Watch a trailer for PlayStation All-Stars Battle Royale below: