Telltale Games has confirmed at the Comic-con 2014 and through their Twitter account that they will be making the Walking Dead Season 3 game. Just in case you don't know what the Walking Dead is, it's a game series based on Robert Kirkman's comics of the same name which also has a TV Series version that it now on its 5th season this coming October on AMC channel.
The Walking Dead game is mostly told from the perspective of Clementine, the little girl whom one of the main characters met in the first season. As for the second season's update, the episode 4 of it has just been released and Telltale has one more episode to release to complete the its Season two of The Walking Dead game.
However, Telltale didn't provide any more details about the upcoming season of the Walking Dead, such as if they will be adding new characters or replacing Clementine, when the release date is going to be or which platforms it will support, just a confirmation that it they will be making it.
Source: Telltale Games(Twitter)