Sony has officially confirmed the entire list of characters present in Playstation All-Stars Battle Royale. The following list excludes (secret) unlocks and DLC characters to be released later.

Here’s the Official Playstation All-Stars: Battle Royale Character Roster from Sony themselves

Big Daddy (BioShock)
Cole MacGrath (inFamous)
Evil Cole MacGrath (inFamous)
Colonel Radec (Killzone 2)
Dante (Devil May Cry)
Fat Princess (Fat Princess)
Heihachi Mishima (Tekken)
Jak and Daxter (Jak and Daxter)
Kratos (God of War)
Nariko (Heavenly Sword)
Nathan Drake (Uncharted)
PaRappa the Rapper (PaRappa the Rapper)
Raiden (Metal Gear)
Ratchet and Clank (Ratchet and Clank)
Sackboy (LittleBigPlanet)
Sir Daniel Fortesque (MediEvil)
Sly Cooper (Sly Cooper)
Spike (Ape Escape)
Sweet Tooth (Twisted Metal)
Toro (Sony’s Japanese mascot)