The Atari Flashback 4 was released by AtGames on November 13, 2012. The console looks similar to its predecessor, but includes wireless joystick controllers. Like its predecessor, the Flashback 4 uses emulation. The console increased its library to 75 games, 15 more than the Flashback 3.

AtGames also released several alternate versions, including the Atari Flashback 4: 40th Anniversary Deluxe Edition. This included a set of replica Atari 2600 paddles, five collectible posters, and a copy of the original Atari joystick patent signed by Nolan Bushnell. AtGames also developed the Atari Flashback 64, a Walmart exclusive version with wired controllers and only 64 games, including Space Invaders. Some versions of the Flashback 4 include a 76th "bonus" game, Millipede.