Mortal Kombat was Acclaim Entertainment's answer to Capcom's Street Fighter series, spawning numerous sequels and two movies with the first making over $125 million at the box office.
"We also expect to release several as-yet unannounced titles such as next-generation versions of our hit franchises Blitz and Mortal Kombat, and two exciting new ambitious open world games," Midway boss David Zucker said in a statement.
"We intend to give more details on our 2008 release schedule in the near future."
The announcement comes following news that Midway's hugely-anticipated shooter Unreal Tournament 3 has slipped to 2008. However, boss Mark Rein has now said there is a chance the title could ship on PC and PS3 before the end of the year.