While Capcom has yet to make a formal announcement, but according to sources who attended their annual Captivate press event in Hawaii, it’s looking very likely that we can expect a long awaited return to one of its most beloved franchises as Marvel Vs. Capcom 3 has been all but confirmed to be in the works.

Details are still scare at the moment, but a few things have been reported by Planet XBox 360.

– MVC3 will be announced very soon, with a possible trailer and/or screenshots to appear within the next week or two.

– It will be a disc-based release.

– The rumored release date is late 2010 or early 2011 on the PlayStation 3 & Xbox 360.

– Confirmed characters so far: Wolverine, Spider-Man, The Hulk, Magneto & Storm representing the Marvel Team

– The development team said they will be blowing fans out of the water with the sheer number of characters this game includes on the disc.

– It will be a 2D fighter in terms of gameplay, but will look like a cross between Marvel VS Capcom 2 and Street Fighter 4, possibly in the vein of Tatsunoko Va. Capcom

– High definition graphics up to 1080p.

– Unlockable content

– MVC3 will be playable at this year’s E3 which is held on June 15 – 17th.

More details here.