In Ultimate Marvel vs. Capcom 3, players select a team of three characters to engage in combat and attempt to knock out their opponents.

[3] The game utilizes the same tag team-based fighting mechanics as its predecessors; players may choose to swap between their characters at any point during a match.

[4] Players must use the various attacks in their arsenal, such as character assists, special moves, and hyper combos, to exhaust their opponent's life gauge and defeat the entire enemy team, or have the most cumulative health when time runs out.

[3][4][5] While the core mechanics remain the same, a number of aesthetic changes have been made in Ultimate Marvel vs. Capcom 3, with a stronger emphasis on the comic book motif.

[7][9] Ultimate Marvel vs. Capcom 3 uses the same simplified, three-button control scheme of undefined light, medium, and heavy attacks introduced in Fate of Two Worlds.

[10] The "X-Factor" mechanic, which grants increased damage output, speed, and health regeneration for a limited time, also reappears from Fate of Two Worlds.

[13] The "ability cards", which feature various characters from the Marvel and Capcom universes, unlock special power-ups, such as invisibility and projectile invincibility, for use during mode-specific combat.

[19] The update, titled Ultimate Marvel vs. Capcom 3, would add new characters, stages, modes, and other enhancements to improve the game's balance and online functionality.

[31][32][33] People who ordered the PlayStation Vita "First Edition" bundle in North America were able to receive an early copy of Ultimate Marvel vs. Capcom 3 on February 15, 2012, one week ahead of the console's official launch date.

[36] The costume in question, which was based on Magneto's appearance in Marvel's House of M series, bore similarities to the attire of the King of Spain, Juan Carlos I, and was later removed from the pack.

[39] Both pieces of art were printed on a single reversible cover for the entire first run of Ultimate Marvel vs. Capcom 3 in North America.

[43] Ultimate Marvel vs. Capcom 3 was released to generally favorable reviews, garnering scores of 80/100 and 79/100 from Metacritic for the PlayStation 3 and Xbox 360 versions, respectively.

[46] The game received praise for addressing several gameplay issues prevalent in Marvel vs. Capcom 3: Fate of Two Worlds and refining the online experience.

Daniel Maniago of G4 praised the game for its "simple, yet deep gameplay", character roster, and improved online features.

[49] GameSpot's Maxwell McGee stated that Ultimate Marvel vs. Capcom 3 was unquestionably the superior version, highlighting the series' "unique blend of structured insanity".

[54] A common criticism amongst reviewers for Ultimate Marvel vs. Capcom 3 was the lack of additional on-disc content beyond the expanded character roster and gameplay tweaks.

[60] Martin Robinson of Eurogamer claimed Ultimate Marvel vs. Capcom 3 was one of the Vita's "finer-looking launch games", praising its detail and faithfulness to the original.

[61] However, he criticized the addition of touchscreen controls, stating its implementation fell short of the mark laid down by Super Street Fighter IV: 3D Edition.