Project X Zone 2

Project X Zone 2 is the sequel of the first Project × Zone game.

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 * Segata Sanshiro

Space Channel 5

 * Ulala
 * Coco Tapioca (Boss)
 * Shadow (Boss)

Shenmue

 * Ryo Hazuki

Virtua Fighter

 * Akira Yuki
 * Pai Chan
 * Kage-Maru
 * V-Dural (Boss)

Yakuza: Dead Souls

 * Kazuma Kiryu
 * Goro Majima

Sakura Wars

 * Ichiro Ogami
 * Sakura Shinguji
 * Erica Fontaine
 * Gemini Sunrise
 * Dokurobo (Boss)
 * Ciseaux & Prelude (Boss)
 * Ayame Fujieda (Boss)
 * Ranmaru Mori (Boss)

Streets of Rage

 * Axel Stone
 * Break (Boss)

Misc

 * Alex Kidd (appears in Ulala's special attack)
 * Opa-Opa (appears in Ulala's special attack)
 * Centurian/Werewolf (appears in Ulala's special attack)

Project × Zone 3?
In an interview, Kensuke Tsukanaka stated that he would like to continue the series if the game was well received, or if fans demanded another crossover game.

Hideki Kamiya of Platinum Games has stated he was approached about having Sega character Bayonetta included in this game, to which he refused as he wanted Bayonetta and Dante from Devil May Cry to meet "on his own terms". However, he has stated he has come to regret this decision due to realizing how the fans would have loved the two interacting, and that if there is a Project X Zone 3 he would be all for Bayonetta's inclusion.