Fans from the PS2 era of PlayStation gaming are about to get very excited now. We have big news coming from the underground scene, confirming that the legendary Timesplitters FPS series is making a return in the form of Timesplitters Rewind.

Even better, is that this game is currently in the pipeline for development on the PS4 console and has apparently already been given a blessing by Crytek UK, aka Free Radican Design, the original developers for the old school games on the PS2.

Timesplitters 2 is still considered to be one of the best console shooters of all time, and one of the first to show how a multi-player focused game can be done on console – probably the one of the few that could be mentioned in the same breath as the legendary Goldeneye on N64 for example.

Michael Hubicka is the project lead on Timesplitters Rewind and he has told CinemaBlend in a recent interview that development has already begun on PS4. He added that the team were confident that Crytek would give the project the green light, with the process a lot easier considering the SDK is already in public circulation.

Below is a video, demonstrating the fact that the game is already in pre-alpha format, but with a long way still to go yet. From what we are aware, Timesplitters Rewind is first going to release for PC as a free download, but will then move onto PS4 as long as it gets approval from Sony.

The game will feature levels from the first two games, but rebuilt using Crytek’s CryEngine 3 graphics. It’s early days yet, but it could be something special indeed if it turns up on the PSN store on the PS4 in 2014.

Tell us your happy memories of Timesplitters on the PlayStation. Would you happily throw your money if Timesplitters appeared on the PS4 next year?