The games console and technology giant first unveiled its VR system in 2014 under the name Project Morpheus, and is powered by connecting to the PlayStation 4 console.
Now re-branded, the device will go on sale to consumers on October 26, with more than 200 developers already working on virtual reality products for the device, Sony said.
Andrew House, CEO of Sony Computer Entertainment said: “Ever since we unveiled PS VR during the 2014 Game Developers Conference, we’ve received a tremendous response from gamers and developers alike.
“To make sure that we are able to prepare and deliver enough units of PS VR and a wide variety of software titles to consumers worldwide, we have decided to launch PS VR in October 2016.
“For those who are looking forward to its launch, we would like to thank everyone for their patience and continued support. We are beyond excited to deliver to consumers the amazing experience that PS VR offers.”
Developers EA, Dice and film studio Lucasfilm are working on a new Star Wars virtual reality experience exclusively for PlayStation VR, it was revealed.
Sony added 50 games for the device will be released between the launch date and the end of 2016.
Virtual reality is set to be the major technology trend of 2016, with Facebook-owned Oculus releasing their Rift headset beginning to ship at the end of this month, while HTC’s Vive going on sale in April. At £499 and £689 respectively, PlayStation VR will be significantly cheaper, and unlike both rival systems will not require a powerful PC in order to run, instead plugging into the PlayStation 4 console.
Manufacturing giant Samsung also already has its Gear VR headset on sale, while LG announced its own headset last month.