All of your previous LittleBigPlanet content will carry over into LittleBigPlanet 3
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All of your previously purchased DLC and collected LittleBigPlanet and LittleBigPlanet 2 items can be used in LittleBigPlanet 3.
This means all of your Level Packs along with your wardrobe and music packs will carry over via a re-download from LBP3’s in-game store at no additional cost.
All of your published levels from the two previous games will be included within the game's LittleBigPlanet Earth and each can be published in Prize Bubbles per a previous announcement.
Instructions on how to transfer all of your content will included in an FAQ on the LittelBigPlanet website closer to release.
In the meantime, head over to the PS Blog for more information.
LBP3 is out on PlayStation 3 and PlayStation 4 November 18.