Atlus and Vanillaware have announced that they are making a HD remake of Odin Sphere today.
Currently only announced for Japan, the HD remake is called Odin Sphere: Leifdrasir. The game will be releasing on January 14th, 2016.
No word has been given on a localization yet. Keep in mind, however, the original Odin Sphere released in Japan and North America within the same month.
Odin Sphere is a 2D sidescroller with RPG elements, known for its hand drawn art style. Odin Sphere: Leifdrasir is being made by developer Vanillaware, who are also known for Muramusa: The Demon Blade and Dragon’s Crown.
Odin Sphere: Leifdrasir is being developed for the PS3, PS4, and Vita.