More specifically, the $299 (£249) console will arrive on 10 November 2020, the same date the Xbox Series X is rumoured to launch.
The Xbox Twitter account shared a previously leaked trailer on Tuesday to announce its release date and to confirm features such as 120fps at 1440p, ray tracing, and a 512GB SSD.
Keep in mind many new Xbox games tend to push the 100GB mark, so the 512GB base storage amount on offer with the Xbox Series S could be a bit disappointing for some. Luckily expansion should be supported.
Previously spoken about under the codename Lockheart, the Xbox Series S will be a digital-only, next-generation machine. It will offer a trimmed back experience in comparison to the Xbox Series X but will still feature advanced gaming tech and while still being the more affordable option.
While the Xbox Series S is expected to be a cheaper, smaller console than the upcoming Xbox Series X, they will share the same CPU. For more about either console and what their thought to feature, check out our rumour roundups below: