The trailer on stage showed Phoenix, the game's hero, who is recruited by the gods to help them deal with some monsters and other issues.
Ubisoft boss Yves Guillemot says he believes video games have a positive impact on the world around us.
It will be released on PC, PS4, Switch, Xbox One, Uplay Plus, and Stadia on February 25. The game makes use of a attractive painted art style, and will allow players to traverse through the open world both on the ground, and in the air, with the use of a gliding mechanic.
Ubisoft closed out its E3 with a mysterious teaser for something "completely new" from the team behind Assassin's Creed Odyssey. The same mode was promised for last year's Assassin's Creed: Odyssey, but has yet to arrive. Based on the quest design tools and branching dialogue system in Assassin's Creed Odyssey, Story Creator Mode allows players to write Stories with beloved historical and fictional characters from the main game and accompany them with gameplay, handwritten dialogues and a variety of quest objectives.
Players will be tasked with helping the Greek gods regain the throne of Olympus, having been thrown down by the deadliest of all monsters, Typhon.
A storybook adventure at heart, Gods & Monsters features a lively and colorful open world to discover.
And that goes right down to the art style.