Medarot 2 was released in 1999 for the Nintendo Game Boy. It's a direct sequel to Medarot 1, and follows the first adventures of Ikki Tenryou and his friends in the town of Omikuji. Unlike its predecessor, Medarot 2 can be played in full color on a Game Boy Color.

Like the other RPGs, the game was released in two versions where the main difference is the player's starting Medarot: Kabuto (Rhinoceros beetle, Metabee) and Kuwagata (Stag beetle, Rokusho). Along with the starting Medarots, there are some Medarots and Medals that can only be obtained in a specific version.

A remake of the game for Game Boy Advance, titled Medarot 2 Core, was released in 2002. While the remake saw releases in North America and Europe, the original Game Boy version of Medarot 2 has never been translated into English.