Sniper Elite V2 has been announced for a 2012 launch on "the current generation of consoles."
Rebellion is developing the game, with 505 Games is publishing.
"It’s very exciting to be working with one of the new breed of major publishers like 505 Games," said Rebellion CEO, Jason Kingsley.
"Sniper Elite was an important, genre-defining property and we’re hoping to have even greater success by teaming up with the talented guys at 505."
Rebellion CTO Chris Kingsley added: “It’s fantastic for us to be involved in the world of Sniper Elite again. We look forward to winning even more awards with Sniper Elite V2 and wowing the consumers with what will be a great game."
No details on the second game have been announced, but the first title was a 2005 third-person shooter that saw you play as an American soldier disguised as a German sniper during the last days of World War II.