A North American version was released on November 9, 1999 and a year later in Europe, distributed by Acclaim Entertainment but self-published by Taito.

The game was also adapted for the PlayStation and released under the title of Psychic Force 2 (サイキックフォース2, Saikikku Fōsu Tsū) in Japan on October 7, 1999 and the PAL Regions in 2001.

[5] The fighting system of Psychic Force 2012 remains the same as its predecessor, but the control has been redefined and the balance has been adjusted while the playing mechanics of the previous game has been fleshed out and new ones have been introduced as well.

So when the Psycho Gauge is depleted, the character will fire small projectiles just like pressing the light attack from far away.

Returning tactics from the first Psychic Force includes the Psycho Charge, Barrier Guard, the Normal Dash, and the Quick Dash while the new tactics introduced in Psychic Force 2012 includes the Retreat Barrier, which can interrupt attacks from the opponent, but it will not break combos as it just prevents the opponent from attacking you after being knocked away while it consumes 50% of the Psycho Gauge, a Slide Dash which allows the character to side-step into the opponent's defense, a Hyper Charge which increase the Psycho Gauge while depleting the Life Gauge though it helps raise the attack power, hence the purpose of the Power Indicator that appears at the top, a Psy-Impulse which is a form of counter-attacking in which the character can unleash a repelling force after being knocked into a wall by the opponent while it consumes 25% of the Psycho Gauge, and a Barrier Break in which a character can break through an opponent's barrier and cause damage, but the move can only be guarded by a normal guard and that it consumes 50% of the Psycho Gauge.

Taking place two years after the events of Psychic Force, the sequel finds the world caught in the crossfire between two factions who vie for control over the Earth.

They are characters from the original Psychic Force who never made it to the arcade or the Dreamcast version, though they lack a Story Mode.

[8] Jeff Lundrigan reviewed the Dreamcast version of the game for Next Generation, rating it one star out of five, and stated that "A waste of money and time.