Square Enix has confirmed that Final Fantasy VII Remake is on the way:

LOS ANGELES (June 15, 2015) – At Sony Computer Entertainment of America LLC’s (SCEA) E3 press conference today, SQUARE ENIX® announced that it has begun production on the full remake of FINAL FANTASY® VII for the PlayStation®4 computer entertainment system.

Leading the development will be key members from the original project, including producer Yoshinori Kitase, director Tetsuya Nomura and scenario writer Kazushige Nojima.

First released in 1997 on the PlayStation® computer entertainment system, FINAL FANTASY VII is universally regarded as a hallmark title of the RPG genre. The original title received high praise for its epic storyline, unique characters, and movie sequences that utilized the most cutting-edge technology of the time. Since then, the game has sold over 11 million copies worldwide and continues to receive widespread acclaim from critics and fans around the world. The popular game has even expanded into spin-offs, films, and merchandise.

More updates on this project will be revealed at a later time.