A third Mortal Kombat film was going to be developed, called "Mortal Kombat: Devastation". Christopher Lambert was cast as Lord Rayden, Linden Ashby as Johnny Cage, Adoni Maropis as Quan Chi, Robin Shou as Liu Kang, Chris Casamassa as Scorpion, Keith Cooke as Sub-Zero, and Lynn 'Red' Williams as Jax. Talisa Soto and Sandra Hess were in talks to reprise their respective roles of Princess Kitana and Lt. Sonya Blade. The plans fell through, and the film rights went to Warner Bros., who released a reboot film on April 23, 2021.
In separate 2012 interviews, Mortal Kombat co-creators Ed Boon and John Tobias revealed they hated the film so much, they considered it the absolute worst experience in all the years they'd spent working on the Mortal Kombat franchise.
In a 20th anniversary Q&A for the first movie, Robin Shou and director Paul W.S. Anderson expressed their dislike for this film.