"Half Life 3" release date was leaked by online retailers earlier this month at GDC. Valve reportedly confirmed that "Half Life 3" is in development.

According to Motoring Crunch, alleged Half-Life virtual reality engineer Jason Grayson said Valve is working on a new "Half Life" game. Grayson allegedly leaked that Half Life 3 has been in development since 2011.

"The only reason we'd go back and do like a super classic kind of product is if a whole bunch of people just internally at Valve said they wanted to do it and had a reasonable explanation for why [they did]. But you know if you want to do another Half-Life game and you want to ignore everything we've learned in shipping Portal 2 and in shipping all the updates on the multiplayer side, that seems like a bad choice," Valve's Gabe Newell said in a Game Slide podcast.

Half-Life 2 Episode Two was released in 2007. Fans have been waiting for a follow-up for eight years. Valve not confirmed any reports on a potential sequel.

"We've said, 'Let's take some existing art and see how it fits, So yeah, we'll grab some headcrabs, we'll grab the machine guns from Half-Life, the rocket launcher-all those different fun things-and see how they play in VR. But right now, it's a tool for exploring the different kind of game designs we want to do," Valve Programmer Jeep Barnett told Kotaku magazine.