Ultra Street Fighter II: The Final Challengers is being developed by Japanese video game company Capcom. The development team is composed of a mixture of old and young employees, some of which worked on recent Capcom fighting games like Street Fighter V and Marvel vs. Capcom: Infinite. On 14 February 2017, the development of the game was at 50%.
The game was announced for the Nintendo Switch console in January 2017. The announcement marked the beginning of Street Fighter’s 30th anniversary celebration. With the last Street Fighter title to release on a Nintendo system being 2011’s Super Street Fighter IV: 3D Edition for the Nintendo 3DS, Capcom saw the launch of the Nintendo Switch as an opportunity to bring a brand-new remixed version of a classic Street Fighter game to a Nintendo console.
On the decision to revisit Street Fighter II, series producer Yoshinori Ono noted that they wanted to go back to their roots. Capcom chose to include two graphical styles so that the game would give old players a sense of nostalgia but still appeal to a younger audience with the updated art. The game’s high-definition graphics were created by Udon Entertainment. The development team did not want to overhaul the game’s balance as they want the game to feel like a fighting game from the 1990s. However, they felt that some questionable aspects of the game’s balance should be re-tuned.