The update was originally planned to launch in May, but unfortunately missed its expected release window.
Capcom has now detailed the new update on the Unity Blog, also revealing how players will be able to purchase content from the in-game store.
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The story expansion, known as A Shadow Falls, is intended to connect the events between Street Fighter 3 and Street Fighter 4.
It appears the mode will work in a similar fashion to the ones found in Injustice: Gods Among Us and Mortal Kombat X.
Throughout the campaign all six DLC characters will be playable, including the newly released Ibuki and upcoming fighters such as Balrog, Urien and Juri.
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Players can earn an in-game currency known as Fight Money by completing the story mode and fighting online.