Codenamed 'Yaiba' - which translates to 'Blade' - the new action title will feature ninjas, robots and zombies, reports Edge.
"A year and a half has passed after becoming independent, and I have been fortunate enough to announce several projects along the way," revealed Inafune.
"I have announced three consumer titles and three social game titles. I have given speeches in various seminars, panels, universities and schools. I have published three books. I am still aggressively challenging myself in various arenas.
"But I asked myself, 'Have I covered all everything?' It felt like something is missing; something people expect from me the most. Everywhere I go, people ask: 'Are you working on it? When is it coming?' The expectation seems higher in the west. The expectation is clear. It's for my next zombie game," he added.
Platforms and release dates are expected to be announced soon, potentially at the Tokyo Game Show.
Keiji Inafune, who is also working on Soul Sacrifice for the PlayStation Vita, had previously promised a surprise for TGS, which kicks off next week.
In addition to Dead Rising, Inafune has also worked on Mega Man and Onimusha.
> Read Digital Spy's Dead Rising 2: Off the Record review
> Read Digital Spy's Dead Rising 2 review
Watch a trailer for Dead Rising 2: Off the Record below: