Like its predecessor, Magical Drop II is a puzzle game where the player takes control of one of several characters named after a tarot card, battling against computer-controlled opponents before facing the villainous Empress in a final encounter.

In addition, four new characters are introduced: Magical Drop II was developed by Data East, which had previously created a number of Neo Geo titles such as Spinmaster, Windjammers, Street Slam, and Karnov's Revenge, with Iwao Horita and Naomi Susa acting as co-supervisors.

[6][9][10] Magical Drop II was first released for the Neo Geo arcade system (MVS) in Japan by Data East on March 21, 1996, and later in North America by SNK on May.

[15][16] In 2017, the Super Famicom port was included along with other Data East titles on compilations released in Japan and worldwide by publisher Retro-Bit, featuring an English translation by the group Aeon Genesis.

[5][17][18] In 2017, Hamster Corporation re-released the game for the PlayStation 4 and Xbox One digital storefronts, and then for Nintendo Switch via the eShop as part of their ACA Neo Geo series.

[23] Reviewing the Neo Geo AES version, MAN!AC's Andreas Knauf wrote that it was an ordinary puzzle game in the vein of Columns, finding its concept simple but mature.

[25] AllGame's Kyle Knight reviewed the Neo Geo AES release as well, giving positive remarks to the cheerful visuals, audio, and frantic but strategic gameplay.

[29][30] Reviewing the re-release on the Wii's Virtual Console, Nintendo Life's Corbie Dillard wrote that "Magical Drop II might not be the most original puzzler idea ever crafted, but it is certainly one of the most intense."

[15] IGN's Lucas M. Thomas also reviewed the Virtual Console re-release and felt that the home version "betrays its arcade origins", citing the minimal presentation, very few options, and difficulty.

[31] MAN!AC's Thomas Nickel reviewed the Virtual Console re-release as well and regarded it as a fun puzzle game, noting the characters' cute design and animations, and two-player mode.

"[19] Hardcore Gamer's Chris Shive regarded the game and the original Magical Drop as the most enjoyable titles in the Data East Classic Collection for Super Nintendo.