A sequel to Tekken Tag Tournament was announced by Namco Bandai at the Tokyo Games Show 2010.
At this stage the game will only be an arcade release in Japan first in Summer 2011. Usually Namco Bandai follows this up with a console version but no official announcements have been made yet.
Characters confirmed to feature in the game include: Kazuya, Jin, Leo, Asuka and Lili.
Here is the trailer released showing some gameplay footage: