An anonymous source told VideoGamer.com that revealing Killzone 4 could be a part of Sony's February 20 announcement.
In 2011, it was reported that Guerrilla Games had started working on the next game in the Killzone series, though no platforms had been announced.
The game is rumoured to come out during the launch window for the PlayStation 4, which is expected to release before the end of the year in Japan and North America, though a European launch may be delayed until 2014.
It is believed that the console's new controller will feature a touch pad, while another report in the Nikkei business daily says that the console will use cloud technology provided by Gaikai.
Gallery: 12 PS4, new Xbox games we can expect:
Copyright: Warner Bros. LucasArts> PS4, new Xbox: All the rumours you need to know on next-gen hardware
It was recently claimed that Sony's next console will feature 4K resolution support in line with a rumoured new range of Sony TVs.
Additional hardware details were leaked last year, while EA's Frank Gibeau revealed that he had seen both the PS4 and new Xbox, and suggested that the consoles would introduce gaming to a further billion people.
Potential next-generation games include Star Wars 1313, Watch Dogs and Mass Effect 4.