Initially released in arcades in 1994, the game advertised it would launch in 1995 for an intended "Nintendo Ultra 64" home console.

A digital port, titled Killer Instinct Classic, was released as part of a bundle with its 2013 sequel's first season on Xbox One.

A digital port, titled Killer Instinct 2 Classic, was released as part of a bundle with its 2013 sequel's second season on Xbox One.

[5] Following the acquisition of Double Helix Games by Amazon, Iron Galaxy Studios took over the development of post-launch content.

The game borrows the attack set of Street Fighter and is also inspired by the finishing moves from Mortal Kombat.