The Master System version of Champion Edition was released in 1997, and was only available in Brazil. The Master System was one of the most popular consoles of all time in Brazil, and often saw many exclusive games, such as this port.

From what I can tell this was officially licensed, and was developed by Tec Toy. It seems to use smaller versions of the sprites featured in the Genesis version, but obviously a lot of animation is gone and backgrounds are a lot more basic, with no animation. There are only 8 characters, with E. Honda, Vega, Zangief and Dhalsim all removed. Many attacks have also been cut out, such as Ryu and Ken's dragon punches. The game is very jerky and also very difficult, as the CPU can easily beat you to a pulp without effort.

Whilst the game uses art from Super Street Fighter II, the game clearly labels itself as Street Fighter II', so I've included it in this section. This version is a collectable item for many fans, but it isn't much fun to play.