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. In the additional 'Master' difficulty setting, Endurance Matches return, in which the player can face as many as three opponents in a given round these had not been seen in the series since the first Mortal Kombat. The original red portal background used for the 'Choose Your Destiny' screen is now blue and an extra Master difficulty is present. Several miscellaneous features were added to and changed in UMK3.

Two new gameplay modes were introduced: the 2-on-2 mode which was similar to an Endurance match but with human players on both sides, and a new eight-player Tournament mode. Several ninja characters absent from Mortal Kombat 3 return in Ultimate Mortal Kombat 3, including Kitana, Jade, Reptile and Scorpion on the prototype version a new Ultimate Kombat Code was added in revision 1.0 to enable Mileena, Ermac and Classic Sub-Zero as secret characters. It was later updated to include more content from previous games in the series as part of the console-exclusive Mortal Kombat Trilogy. UMK3 was well received and has been considered a high point for the Mortal Kombat series. The iPhone/iPod version recreates the game using a 3D graphics engine. Some versions were released under different titles: Mortal Kombat Advance for the Game Boy Advance and Ultimate Mortal Kombat for the Nintendo DS.

Later home versions emulated the arcade original with more accuracy, including Mortal Kombat Arcade Kollection, which included the game alongside its predecessors Mortal Kombat and Mortal Kombat II. Several home port versions of the game were soon released after the arcade original, although none were completely identical to the arcade version. It is an update of 1995's earlier Mortal Kombat 3 (MK3) with an altered gameplay system, additional characters and stages, and some new features. Ultimate Mortal Kombat 3 (UMK3) is a fighting game in the Mortal Kombat series, originally developed and released by Midway Games to arcades in 1995.

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