Some characters were given extra combos and some combos were made to cause less damage. To balance the gameplay, some characters were given new moves and some existing moves were altered. Shao Kahn's Lost Treasures – selectable prizes, of which some are extra fights and others lead to various cutscenes or other things – are introduced after either the main game or the eight-player Tournament are completed. Two new gameplay modes have been introduced since the original Mortal Kombat 3: the 2-on-2 mode which was similar to an Endurance match but with as many as three human players in a given round on both sides (these had not been seen in the series since the first Mortal Kombat), and a new eight-player Tournament mode. Kitana performing a decapitation Fatality finishing move on Liu Kang

The 2011 compilation Mortal Kombat Arcade Kollection includes an emulation of UMK3 as well as the first Mortal Kombat and Mortal Kombat II. Ultimate Mortal Kombat 3 was updated to include more content from previous games in the series as Mortal Kombat Trilogy in 1996. However, the iOS remake and some other home versions were received poorly. Ultimate Mortal Kombat 3 was mostly well-received and has been considered a high point for the Mortal Kombat series. An iOS version recreating the game using a 3D graphics engine was released by Electronic Arts in 2010.

Some versions were released under different titles: Mortal Kombat Advance for the Game Boy Advance in 2001 and Ultimate Mortal Kombat for the Nintendo DS in 2007. Some later home versions followed the arcade original with more accuracy.

Although none were completely identical to the arcade version, the Sega Saturn port came closest. Several home port versions of the game were soon released after the arcade original. It is a standalone update of 1995's earlier Mortal Kombat 3 with an altered gameplay system, it also includes returning favorites Kitana and Scorpion who were missing from Mortal Kombat 3, and some new features. Ultimate Mortal Kombat 3 is a fighting game in the Mortal Kombat series, developed and released by Midway to arcades in 1995.

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