A PS3 game with a red "Greatest Hits" label is one that has been re-released by Sony at a lower price. Games for the PlayStation 3 have their price dropped to $29.99 once they become a Greatest Hits title and can usually be found even cheaper. There are certain milestones a PS3 game must meet before being allowed to be re-released as a Greatest Hit. The game must be on the market for at least ten months and sell no less than 500,000 copies. The entire 24 game list of Greatest Hit titles for the PS3 is as follows:

• Army of Two
  When One Man Is Not Enough…
  
  It will take an Army of Two to stop the corruption of rogue private military corporations. Fight along side your team-mate to become the deadliest two-man military outfit a government can buy. The breakthrough gameplay in Army of Two, with a live or adaptive AI partner, enables you to take advantage of two-man strategies like customizable weapons, vehicles, and tactical shooting. If you’re going to survive, you’ll have to bring down a vast conspiracy in which the line between ‘good guys’ and ‘bad guys’ has been obliterated.
• Assassin's Creed
  The Third Crusade is tearing the Holy Land apart. You are an elite Assassin sent to stop the hostilities by suppressing the powers on both the Crusader and Saracen sides. But as you carry out your missions, a conspiracy begins to unfold. You find yourself tangled up in a conflict that threatens not only the Holy Land, but the entire world. Experience the power of a feared Assassin. Your actions can throw your immediate environment into chaos, and your existence will shape the events of this pivotal moment in history.
• Battlefield: Bad Company
  Welcome to the 222nd Army battalion, B-company. This is where the Army rakes together all the insubordinates, hellraisers and troublemakers that won’t fit in any other unit. When the Rangers and Deltas are too expensive to waste, these guys are the first ones in.
  
  They’re called “Bad Company”; a mismatched bunch of rejects selected to serve their country as cannon fodder. This isn’t the kind of outfit a lot of soldiers would join voluntarily. Getting transferred to “the B” is a punishment and a way for the generals to put all their rotten eggs in one basket. No one starts out in Bad Company. But for some, this is where they end up.
• Burnout Paradise
  Burnout Paradise gives players license to wreak havoc in Paradise City, the ultimate racing battleground, with a massive infrastructure of traffic-heavy roads to abuse. Gone is the need to jump in and out of menus and aimlessly search for fun like many open world games; in Burnout Paradise, every inch of the world is built to deliver heart-stopping Burnout-style gameplay. Every intersection is a potential crash junction and every alleyway is an opportunity to rack up moving violations.
• Call of Duty 3
  Through a seamless narrative that delivers the rush of unrelenting battle and breathtaking action, players assume the roles of four ordinary Allied soldiers; American, British, Canadian and Polish, and are thrust onto an authentic, living battlefield for an unprecedented variety of combat situations, as the campaign to liberate Paris ensues.
• Devil May Cry 4
  Fans of the ‘Hack and Slash’ wing of the Action genre are more than likely familiar with the single player, gothic-flavored action of Capcom’s Devil May Cry franchise. The first three games in the series are centered on the sword play and gun slinging of demon hunter and long-time hero, Dante, but in the most recent release, Devil May Cry 4, players are thrown a changeup, as doubt is cast on the once unquestionable motives and actions of Dante by a new, yet somehow familiar hero, Nero.
• Dragon Ball Z: Burst Limit
  Dragon Ball Z: Burst Limit is revolutionizing the series by entering the realm of next-generation gaming. Complete with fierce online battles and radical 3D graphic effects only possible on PLAYSTATION®3 system, Dragon Ball Z: Burst Limit will blur the line between video game and iconic anime series. Jam-packed with graphically enhanced playable characters, realistic battle stages and environments, players can take hold and experience Dragon Ball Z as never before.
• The Elder Scrolls IV: Oblivion
  After the mysterious and untimely death of the Emperor, the throne of Tamriel lies empty. With the Empire ready to crumble, the gates of Oblivion open and demons march upon the land - laying waste to everything in their path. To turn the tide of darkness, you must find the lost heir to the throne and unravel the sinister plot that threatens to destroy all of Tamriel.
• Fight Night Round 3
  Fight Night Round 3 brings back Fight Night, the undisputed champion of boxing games. It's one of the best looking and playing sports games on the market. Now it takes the action outside the ring -- where gamers can establish rivalries through pre-fight events, putting purpose and passion behind every hit. It's the closest thing to being in the ring without getting punched. Film-quality graphics - Gamers rely on facial expressions and body language to gauge an opponent's health and energy creating a more emotionally immersive experience Online gameplay for wilder boxing action against real-life opponents.
• Gran Turismo 5 Prologue
  The award-winning Gran Turismo franchise returns with its 5th installment, Gran Turismo 5 Prologue, exclusively for PlayStation 3. With its signature realism and unrivaled physics, this highly anticipated precursor to Gran Turismo 5 continues to blur the line between simulation and reality.
  
  "Prologue" is defined as an introductory or preceding event or development, and true to every letter, Gran Turismo 5: Prologue treats both long-time fans of the Gran Turismo franchise as well as those coming to it new, with a generous sampling of what they can expect to see in Gran Turismo 5 later in the year and further releases on the PS3.
• Metal Gear Solid 4: Guns of the Patriots
  Marking the return of Hideo Kojima's legendary tactical espionage action series, Metal Gear Solid 4: Guns of the Patriots features a cinematic experience and visual masterpiece that will redefine this landmark franchise as a revolutionary game for the PLAYSTATION3 system. The game is the final chapter in the saga of Solid Snake that sends him around the world in pursuit of his arch nemesis, Liquid Ocelot. Armed with new gadgets and abilities, Solid Snake must shift the tides of war into his favor, using the chaos of the battlefield to infiltrate deep into enemy territory. In his globetrotting final mission, Snake must sneak deep into enemy locations in the Middle East, South America, and other corners of the earth to foil Liquid Ocelot's. Metal Gear Solid 4: Guns of the Patriots includes Metal Gear Online "Starter Pack", which is the full and complete multiplayer component of Metal Gear Solid 4: Guns of the Patriots.
• MotorStorm
  The first Motorstorm wowed fans with its heady formula of brutal, unpredictable off-road racing, festival vibes and stunning Monument Valley desert scenery. Now, Motorstorm Pacific Rift takes you to a solitary tropical paradise in the Pacific Ocean, ready for a whole new take on no-holds-barred racing action through thick swamps, dense jungle, towering peaks and steaming volcanoes.
• Need for Speed: Carbon
  Need For Speed: Carbon forces you to live out a street racing maxim: To own the city, you have to win the canyon. You and your crew must race in an all-out war for the city, risking everything to take over your rivals' neighborhoods one block at a time. As the police turn up the heat, the battle shifts to Carbon Canyon, where territories and reputations can be lost on every perilous curve. Take your custom Autosculpted car online and challenge other live racers from across the world.
• Need for Speed: ProStreet
  Compete at the highest level of street racing with Need for Speed ProStreet. It’s no longer good enough to simply rule your local neighborhood; you need to dominate on a global stage. Build the ultimate battle machine, take it to multi-disciplinary showdowns and pit your skills and reputation against the world’s best street racers. Every dent, every scratch and every crumpled body panel is a battle scar, proof of your commitment and competitive mettle. This is your chance to prove that you have what it takes to be crowned the next Street King. Need for Speed ProStreet is the realization of the raw power, visceral aggression and intense rivalry that embodies street racing culture.
• Ninja Gaiden: Sigma
  Superior graphics on PS3 Sigma version with enhanced colors and gameplay speed. Three brand new Chapters added to PS3 Sigma, totaling 18 Chapters. Rachel is playable character now including updated story line. 25 new Missions in Mission Mode for both Ryu and Rachel. New enemies & 3 new Boss characters, totaling 70, with retuned & enhanced AI. New weapons including dual-wield katanas, double swords, Ninja magic, and others. New combos and special action moves such as running & fighting on surface of water. New destructible environments and items. New innovative six-axis controller functionality to assist in fighting enemies. Upload Karma scores on Playstation Network to compare leader boards. Additional content made available later in 2007 to further enhance the Ninja Gaiden Sigma PS3 experience. 5 difficulty levels, including access to easier “Ninja Dog” level at any Chapter during game allows for playability for all skill levels of gamers.
• Rainbow Six: Vegas
  Rainbow Six: Vegas presents a new team of Rainbow Warriors, as they take to the streets of America. The streets of Las Vegas are chaotic, an escalating terrorist siege in "Sin City" threatens to take world terrorism to new, uncontrollable heights. The future of global security hangs in the balance as you battle to defend classic Vegas locations and environments like Freemont Street, The Strip, and Casinos. Experience Las Vegas like never before through revolutionary next-generation technology as you work against the clock to keep one of the world's most recognizable cities from utter devastation.
• Ratchet and Clank Future: Tools of Destruction
  After saving countless planets from dreadful doom and earning intergalactic mega-celebrity status in the process, Ratchet and Clank have taken some well-deserved R&R -- again. Yet, Ratchet remains restless. An orphan of the universe, he has never known anything of his past, his family, or his Lombax origins. And no one, not even Clank, can fill that void. Unfortunately for Ratchet, someone else is equally interested in Ratchet's origins: Emperor Percival Tachyon. In his thirst for revenge, the vile tyrant of an ancient race of foul insect-like monsters called Cragmites has festered an age-old grudge and is bent on wiping the last-known Lombax off the universe!
• Resistance: Fall of Man
  Set in a frightening, alternate 20th century reality, Resistance: Fall Of Man delivers a unique blend of harrowing military action and unnerving horror. In mere decades, the Chimera -- a species of unknown origin propagating a virus that converts other life forms into more Chimera -- has overrun Russia and all of Europe. Humanity's hope for survival is slim, and the tide of the battle rests on the shoulders of U.S. Army Ranger, Sgt. Nathan Hale. Taking advantage of the PlayStation 3's processing power, Resistance has you experiencing a wide variety of horrifying creatures, physics-based weaponry, playable vehicles, smart enemies, and highly detailed and diverse environments. Players are challenged online and offline as Resistance: Fall of Man in a single player campaign, a co-operative mode and a full online onslaught.
• Saints Row 2
  Five years have passed since your former Saints crew betrayed you. As you awake from a coma for the first time since that fateful day, you find the Stilwater you once ruled is in disarray. Unfamiliar gangs have laid claim to your territory, rival factions have taken over your rackets, and cash-hungry corporations have laid waste to your once proud 3rd Street home. Abandoned and left scarred with an unrecognizable face, you seek out a plastic surgeon to begin your new life on the streets. Yet some things never change in Stilwater.
• SOCOM: Confrontation
  SOCOM breaches onto the PS3 in high-definition with the ultimate next-generation online combat experience. SOCOM Confrontation focuses on online play and the global community and clans that support it. With support for Tournaments, Clan Ladders, Leader Boards, this fourth title in the multi-million unit selling franchise is exactly what SOCOM fans have been clamoring for. Additionally, players will be able to modify their appearance through facial and physical customization. A global-scale experience, SOCOM Confrontation gives players the opportunity to battle against the best and brightest from the U.S., Europe and Asia. SOCOM Confrontation deploys with five new North African themed maps, including a 32-player version of "Crossroads." Additional themed packs for SOCOM Confrontation will be made available for download via the PlayStation Store.
• Uncharted: Drake's Fortune
  A 400-year-old clue in the coffin of Sir Francis Drake sets a modern-day fortune hunter on an exploration for the fabled treasure of El Dorado, leading to the discovery of a forgotten island in the middle of the Pacific Ocean. The search turns deadly when Nathan Drake becomes stranded on the island and hunted by mercenaries. Outnumbered and outgunned, Drake and his companions must fight to survive as they begin to unravel the terrible secrets hidden on the Island.
• WWE SmackDown vs Raw 2009
  The Number One fighting game franchise in the world is back on the PlayStation 3 with WWE Smackdown vs. Raw 2009, giving wrestling fans the definitive simulation of the WWE experience. The latest version brings enhanced graphics, new matches, a huge roster of wrestlers, and more to keep WWE fans excited for a long time to come.
• Virtua Fighter 5
  The fifth entry in SEGA's advanced, realistic fighting game series. Once again, the realtime level of visual detail and character animation has been upped to the most advanced levels, with next-generation lighting and detail on the fighters and environments. Virtua Fighter 5 features an all-star cast of 17 fighters, including characters from the previous iterations along with two new characters named El Blaze and Eileen. Players will be able to customize their characters by selecting from four uniquely patterned costumes and a wide range of attachable items that can be placed onto each fighter's various body parts. Players will not only achieve victory by defeating highly-skilled opponents, but will also compete for prizes and earn in-game money through the match to buy many items at an in-game shop.
• Warhawk
  Experience the thrill of white-knuckle aerial combat with hundreds of enemy fighters, bone-crunching armored assaults and high-intensity infantry combat in a massive, all-out war fought on both the ground and in the skies. Through various gameplay modes such as Team Deathmatch, Territories Mode and Capture the Flag, players engage in cooperative online play or fend for themselves against a barrage of enemies in thrilling combat. During battle, players can take command of the most advanced war machine in the fleet, the Warhawk, capable of aerobatic dogfights at high speeds or hovering over ground troops providing tactical support. Players continue the battle on foot with an arsenal of weaponry including rifles, flame throwers, grenades and more. Furthermore, players can gain access to an array of ground vehicles and lay waste with powerful weapons mounted on jeeps, tanks and specialty transports.

This list will be updated as more PS3 Greatest Hits are introduced.

Note: The Greatest Hits title applies to the North American release of a game. Other parts of the world have similar re-released titles, such as the Platinum versions in PAL regions.