The releases for MS-DOS, Microsoft Windows, PlayStation, and Saturn feature pre-rendered 3D graphics, CD music and extensive voice acting provided by Rob Paulsen (Erik), Jeff Bennett (Baleog and Fang), Jim Cummings (Olaf, Tomator), and Frank Welker (Scorch).

In celebration of the company's 30th anniversary, The Lost Vikings 2 was re-released for Microsoft Windows, Nintendo Switch, PlayStation 4 and Xbox One as part of the Blizzard Arcade Collection on April 13, 2021.

Lost Vikings 2 is a side-scrolling platform adventure in which the player alternates control of three of the five playable characters, guiding each of them one at a time from a designated start point in each level to the exit, collecting three specific items along the way.

[8] Each character has the ability to carry and use items — mainly keys, bombs, and food (which restore health points) — as well as a unique set of skills: A 3DO Interactive Multiplayer version of The Lost Vikings 2 was announced to be in development and slated to be published by Interplay during E3 1995.

While most critics remarked that the graphics are subpar for their generation,[11][17][18][19] they praised the humorous voice clips[11][13][15][17][18][19] and, while noting that the challenge level is extremely high and would be frustrating for some players, they also felt it to be entirely fair and intellectually stimulating.

[18] Trent Ward of GameSpot, however, disagreed with the majority assessment of the graphics, stating that "Although it's no visual feast, Norse by NorseWest still looks pretty good for what is, at its heart, a puzzle game.

[12] GamePro was dissatisfied with the graphics and sound effects, saying they are unimproved from the original The Lost Vikings and thus don't hold up to Super NES games released in recent years.