The third game of the Warlords series, it was SSG's first game released through a different publisher, and marked the beginning of the decline of the classic '80s computer game company. It was followed a year later by Warlords III: Darklords Rising which was a rework of this release, with a new UI color scheme, new scenarios, and a new soundtrack.
While Darklords Rising featured improvements to the engine, Rise of Heroes was still a solid fantasy conquest game. While the game largely stayed true to the features of the previous games, new ideas were added in combat and the like. For the first time a single-player campaign was included, using factions from the first game, but with an entirely new world.