They will both be available on Nintendo Switch from 15 November 2019.
Each game will be available separately, in physical and digital forms. There will also be a dual-pack bundle, containing both versions of the game for hardcore fans.
More details on Pokémon Sword and Shield were also revealed during the Direct presentation.
As previously revealed, the RPG adventure is set in the Galor region and there are many new Pokémon to discover and catch.
We knew about Grookey, Scorbunny and Sobble already, but other new Pokémon to be found in the Galor region include Wooloo, a sheep Pokémon, Gossifleur, a flowering Pokémon that can also evolve into Eldegloss, Drednaw, a bite Pokémon, and Corviknight, a raven Pokémon.
There will also be two new legendary Pokémon, which represent the Sword and Shield in the game's titles: Zacian and Zamazenta.
New features are coming to Sword and Shield too. Players will be able to control the camera in the Wild Area of the Galor region, to more accurately hunt for Pokémon. New, enormous gyms are scattered around the world. And, a new Dynamax power-up can be used once per battle to turn your compatible Pokémon into a giant version with extended powers.
It reduces down to normal size after three turns so adds new strategies to battles.
Finally, multiplayer raids are coming to Pokémon for the first time. Called Max Raid Battles, you can take on special Pokémon with other trainers either over local Wi-Fi or the internet. Some Pokémon can only be caught in these raids, so they are worth taking part in.
You can rewatch the Pokémon Sword and Shield Nintendo Direct presentation right here. More is expected to be revealed as part of Nintendo's E3 2019 celebrations.