The live action TV spot is the follow-up to last year's 'To Michael' campaign, and features Cole from Infamous, Kratos from God of War, LBP's Sackboy and Nathan Drake from Uncharted.
The advert sees the characters duking it out before turning their attentions to Kratos, which is followed by an appearance from the player.
The TV spot goes live the week after the launch of the PlayStation All-Stars: Battle Royale beta, which was available for all Vita users and PS Plus subscribers.
The beta, which provides access to six fighters, Kratos, Sweet Tooth, Colonel Radec, Sly Cooper, PaRappa and Fat Princess, will be rolled out to the wider public this week.
Players will be able to enter either four-player free-for-all matches or two vs two team matches on two different fighting arenas.
Sony announced at gamescom 2012 that PlayStation All-Stars Battle Royale will enable the Cross-Buy feature, giving users a free copy of the game on PlayStation 3 or Vita when purchased for the other system.
PlayStation All-Stars Battle Royale's release date was previously hit with a delay, and will now release on November 20 in North America and on November 23 in the UK.
Watch the latest trailer for PlayStation All-Stars Battle Royale below: