Time to be excited!
Bounter Hunter is a play killing minigame located in the wilderness. It was originally introduced to OSRS in December of 2007 after PvP and free trade was removed from the game.
Once you enter a Bounty Hunter world and go to the wilderness, an interface showing your target that is within 5 combat levels of you will appear on the top-right of your game. The interface also tells you where your target is in the wilderness. Assigned targets can attack each other no matter how deep in the wilderness they are. You’re able to skip targets to be assigned another one and if you successfully kill a target, there will be additional rewards. You can also teleport to your target but be careful, you could be teleporting right into a clan!
Information about the rewards will be coming out closer to the release date. Usually with a big update like this, there will be some new best in slot items.
Jagex has announced that the return of Bounty Hunter should be expected in Spring of 2023.