This game is a follow-up to the previous Mega Man Legacy Collection title, and consists of the remaining four titles from the core Mega Man series. It is also notable as being the first entry to hint at there potentially being a new Mega Man entry after an eight-year hiatus, which was eventually confirmed with the announcement of Mega Man 11 on December 4, 2017, almost four months later.
- Gallery: Accessible from the Gallery section in the main menu only, with each game being divided up by sections. Additionally, highlighting a Robot Master picture and pressing a button allows the player to have practice battles against any of the 32 Robot Masters, similar to the database from the original Legacy Collection (though this is exclusive to Mega Man in the case of Mega Man 9 and Mega Man 10, and the Robot Masters of Mega Man 10 are fought at Normal Mode difficulty).
- Challenges: Like its predecessor, it possesses different challenges from each of the four games. One alteration, as seen in the trailer, is that the exact times to complete the challenges to qualify for the medals is now available for the player to view before entering the challenge. Additionally, all of the challenges from the original release of both Mega Man 9 and Mega Man 10 are listed under original challenges. In addition the release on the Nintendo Switch have 10 new challenges unlocked with a Mega Man amibo, similar to the first Legacy Collection which are extra Stage Remix challenges.
- Music: Like its predecessor, the OST from each game is available and, unlike the first Legacy Collection, there is no longer a time limit for each musical track that has an infinite loop.
- Like with most versions from the original Legacy Collection, Achievements (PC and Xbox One) and Trophies (PS4) can be earned by completing certain feats within the game.
- In Mega Man 7, a small grammar error was fixed in the ending, and Bass's "damn" was changed into "darn" in Shade Man's stage (the damn/darn change was originally done in Mega Man Anniversary Collection as well).
- The Famicom and Game Boy references in the beginning of Junk Man's stage were removed presumably due to copyright issues as Nintendo was not initially involved with Legacy Collection 2.
- Possibly due to copyright issues, when playing the Japanese version of Mega Man 8, the opening will play the English theme instead of Electrical Communication, and the ending will play Staff Roll throughout the entire credits instead of Brandnew Way.
- As a result, the opening FMV and ending credits uses the footage used in the International versions of the game, with the Mega Man 8 logo in the opening, as opposed to the Rockman 8: Metal Heroes logo, and the English cast credited instead of the Japanese cast in the end credits. The opening was likely an oversight by Capcom, while the ending was likely to remove the credit listing for GANASIA's Electrical Communication and Brandnew Way that was in the original Japanese version's credits.
- In the Nintendo Switch release of Mega Man 8, during the FMV cutscene where Mega Man encounters Wily Tower after the mid-stage boss battle with Duo, the scene where he is electrocuted by the giant robot is noticeably darker in terms of brightness. Several frames are slowed down, as well, causing a mild blurring effect, likely to reduce potential seizures.
- The Red Cross was removed from the Rush Charger icon due to the symbol being no longer allowed to be used in video games.
- The DLC add-ons from Mega Man 9 and Mega Man 10 are now unlocked after completing each game once without requiring any purchases or an actual download. Alternatively it can also be unlocked by entering the secret code ↑, ↓, ←, →, ←, →, ↓, ↑, ↑, and ↓ on the title screen for either game which triggers a chime sound when entered correctly.
- Like the games in the first Legacy Collection, each game in this collection has its own background design. One new change is that the background frames for each game are no longer limited to a single frame, and the player can switch between four different designs from the option menu.
- An Extra Armor option was added, which halves damage taken.
- Due to the new challenges created for Legacy Collection 2, it is now possible for Proto Man to fight Fake Man in Mega Man 9, or for Proto Man or Bass to fight Enker, Punk, and Ballade in Mega Man 10, something which was impossible in the original games.
- The original trophies and achievements for completing the Challenge 2 challenges in the original PS3 and Xbox 360 version of Mega Man 10 which was part of the PlayStation Network and Xbox Live Arcade are not part of the Achievement/Trophy set for Legacy Collection 2.
- Similar to the original NES games in Complete Works, Anniversary Collection, and Legacy Collection, the ability to rapid-fire has been added with the minor exception of Mega Man 8 (as this game was originally designed with a second set of firing controls which also allows for the usage of the regular Mega Buster while a Special Weapon is equipped).
- Unlike the previous involvement it had in the collection game Mega Man Anniversary Collection, the ending for Mega Man 7 is shown in its original design with the animated graphics.
- This collection is the first instance where Mega Man 9 and Mega Man 10 were released in physical format. Previously they were downloadable titles only via the Playstation 3's Playstation Network, Xbox 360's Xbox Live Arcade, and Nintendo Wii's Wii Shop Channel.
- Bits and pieces of code for a possible 3DS port have been found through hacking, although Capcom has not currently announced any plans on porting it to the 3DS family.