An upgraded special edition release of Dragon Ball Z: Budokai 2 (which was known as Dragon Ball Z 2 in Japan) was released exclusively in Japan and titled "Dragon Ball Z 2 V".

Only 1000 copies were produced and sent out to readers of the magazine V Jump. This version featured a special Tenka'ichi Budōkai stage with V-Jump plastered over the ring, all characters unlocked from the start, and an alternate Coola costume for Freeza.

However, players were unable to save the game and all capsules were automatically assigned to characters.

Freeza's son, Kuriza, appears as a third alternate costume for Freeza, however, this is only in the Japanese version of Budokai 2, 'Dragon Ball Z 2', and in the special edition release, 'Dragon Ball Z 2 V'.

In the "Dragon Ball Z 2 V" edition, in a special stage exclusive to this version, the characters Onio, Neko Majin and Neko Majin Mike from the Dragon Ball spin-off series "Nekomajin" can be seen on different areas of the map.

The game has a glitch that has the ability to freeze time with Android 17, Android 18, and Cell. To use it, the player has to taunt at exactly the moment when the Energy Field attack is used. By doing this, everything is frozen but the player. To get out of the glitch, the player must punch or kick his opponent.

In the game's opening when Krillin is seen with Trunks and Goten, he's mistakenly depicted as being bald. During this era he's already supposed to have regrown his hair.

The opening of the game features Goku fighting Vegeta in Saiyan Saga outfit, however that outfit isn't available for Vegeta in the game.