How to play:

​

The player loses a life if hit by a critical bullet or an obstacle and the game ends when the player loses all lives. Players also lose a life if the time limit (which is replenished after each area is cleared) drops to zero (unlike the first game where running out of time resulted in a game over). Players can continue from the point their current position, as opposed to the PlayStation version of Time Crisis, which required players to restart from the beginning of a section.

​

This was the first Time Crisis game to introduce two-player cooperative play by allowing two people to play simultaneously, allowing each player to cover the other (in single player, the computer controls the other character). The arcade version used connecting cabinets, allowing a player to allow another player to join, or to exclusively play alone. Points are deducted for shooting the other player, though neither player will lose lives as a result.