The Sega Mega Drive Mini will launch on September 19 this year, in both North America and European territories.
The self-contained console will be known as Sega Genesis Mini in North America, and it will ship with 40 games in total.
Sega has confirmed ten of those titles: Ecco the Dolphin, Sonic the Hedgehog, Castlevania: Bloodlines, Space Harrier 2, Shining Force, Dr. Robotnik's Mean Bean Machine, ToeJam & Earl, Comix Zone, Altered Beast and Gunstar Heroes.
The hardware will ship with two wired, USB controllers, and it will be priced at $79.99 in the US, £69.99 in the UK, and €79.99 in Europe.
The remaining games will be announced soon, Sega said, but pre-orders for the hardware are already open.
Sega announced its plans to enter the market for reissues of classic consoles in May 2018, but the launch was pushed into 2019 last September.
Nintendo is the leader in this emerging sector, having already launched slimmed down versions of both the NES and SNES. Sony is the other notable player, with its reissue of the original PlayStation.
Due to a now retracted Sega press release, a previous version of this story stated that Earthworm Jim would be included with the Sega Mega Drive Mini. The content has been altered to show that ToeJam & Earl will be in the package, and not Earthworm Jim.