Panzerkrieg was originally published in 1978 by Operations Study Group (OSG). It was republished in 1983 by Avalon Hill Games Company. The third and latest version was published in 1994 by CoSi.

Panzerkrieg is a simple-mid complexity operational level game of the military operations in Southern Russia during World War 2. The game is played on a map depicting southern Russia from its western border with Rumania and Poland in the west to the Caucasus mountains in the east. Units are basically German divisions and Russian corps, with multiple units being able to merge to form German corps and Russian armies. Each game turn represents approximately 1 week of real time.

Game rules include armoured exploitations, leaders, supply, combat reserves, rail and naval movement, air power, and Axis satellites. The game consists of 9 separate scenarios, each depicting an important operation. There is no campaign game.

Cosi Ver. is New five Guards Tank Corps.There is 6-11 have become 7-11.