WITCHER 3 announced, will be final game in the series

CDProjekt have confirmed that The Witcher 3: Wild Hunt is in development and will be released in 2014. In a major break from the structure of the first two games, The Witcher 3 will be an open-world game similar to Bethesda's Elder Scrolls game (with Skyrim name-checked several times). The game world will be 30 times the size of The Witcher 2's, and about 20% larger than the setting of Skyrim and Oblivion.

Confirmed: The Witcher 3 will have beards, horses and trees.

CDProjekt have also confirmed that this will be the last game set in The Witcher universe. The games are based on Andrzej Sapkowski's novels, though they are not considered canon (as Sapkowski rather brusquely confirmed a few weeks ago) for the future books in the world that Sapkowski is planning. CDProjekt are also working on an RPG based on the Cyberpunk pen-and-paper system, with their first game in the setting, Cyberpunk 2077, expected to be released in 2015.

The Witcher 3 will be released in 2014 on PC and (almost certainly) next-generation consoles.