In 2011, the MK team, now known as NetherRealm Studios after the rights to the Mortal Kombat franchise were purchased by Warner Brothers following Midway's closure, released an all-new re-telling of the first three Mortal Kombat games. The franchise was brought back to its more mature, brutal roots, as opposed to the studio's previous installment Mortal Kombat vs. DC Universe, which received a teen rating.

In this new storyline, Raiden receives a message from his future self after the final battle of Armageddon has taken place, and Shao Kahn is now the supreme ruler of all realms. Because of this, the past timeline has now been altered, and characters and scenarios are once again in their classic forms, blending old and new elements seamlessly.

This new, altered timeline is fleshed out through a 16 chapter story mode, with one character being playable for each chapter.

The game also features a brand new mission based mode called Challenge Tower. The player must complete several different tasks ranging from quite simple to frustratingly difficult. Once all 300 missions have been completed, a special reward is unlocked. The Challenge Tower mode also feature several familiar mini-games such as Test Your Might and Test Your Sight, as well as newcomers Test Your Strike and Test Your Luck.

Mortal Kombat (2011) also is the first game in the franchise to have a playable guest kombatant. Kratos, from Sony's God of War series, was included in the Playstation 3 version of the game. The MK team revealed they also wanted to include an exclusive Microsoft character for Xbox 360 version, but were unsuccessful.

Baraka (Playable),  Cyber Sub-Zero (Unlockable/Playable),  Cyrax (Playable),  Ermac (Playable),  Freddy Krueger (DLC/Playable),  Goro (Sub-Boss),  Jade (Playable),  Jax (Playable),  Johnny Cage (Playable),  Johnny Cage (DLC/Playable),  Kabal (Playable),  Kano (Playable),  Kenshi (Playable),  Kitana (Playable),  Kratos (Playable),  Kung Lao (Playable),  Liu Kang (Playable),  Mileena (Playable),  Nightwolf (Playable),  Noob Saibot (Playable),  Quan Chi (Playable),  Raiden (Playable),  Rain (DLC/Playable),  Reptile (Playable),  Scorpion (Playable),  Sektor (Playable),  Shang Tsung (Playable),  Shao Kahn/General Shao (Final Boss),  Sheeva (Playable),  Sindel (Playable),  Skarlet (DLC/Playable),  Smoke (Playable),  Sonya (Playable),  Stryker (Playable),  Sub-Zero (Playable)

Armory,  Belltower,  Challenge Tower,  Courtyard,  Dead Pool,  Desert,  Evil Monastery,  Flesh Pits,  Goro's Lair,  Graveyard,  Hell (MK2011),  Living Forest,  Pit,  Pit Bottom,  Rooftop,  Shang Tsung's Garden,  Shang Tsung's Throne Room,  Shao Kahn's Arena (Koliseum),  Soul Chamber,  Street,  Subway,  Temple,  Wastelands