The fantasy-themed game is set in the fictional town of Torchlight and the expansive caverns and dungeons nearby, which adventurers explore to collect valuable loot and battle hordes of monsters.
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ARPG dev says it needs a break from the universe, reveals next game "probably won't be another Torchlight"
Diablo III was originally intended to be an MMO, according to Runic boss and ex-Blizzard staffer Max Schaefer.
Torchlight 2 has been given a launch window by studio Runic Games.
Runic Games is currently targeting late 2012/early 2013 for the release of its Torchlight MMO.
Runic Games has revealed Torchlight II will retail for $19.99, the same price as the original title.
Its continued development depends on the success of the upcoming dungeon crawler Torchlight II.