Hokages
Description: unlock the first and second hokages, answer all ten questions asked by Ebisu. The third hokage can be unlocked by defeating the Heroes History mode. To unlock the fourth hokage, unlock each character in the game.

How to unlock: [ 1st and 2nd hokage] Start by selecting Ultimate Contest mode and complete it. Now, head to the academy and talk to Udon and Moegi, successfully completing their ten riddles. From there, go to Shushuya Restaurant. Here you will meet Ebisu. Answer his riddles like you did the earlier characters. When completed, the first and second hokages will be unlocked.

The Fourth Hokage can be unlocked after you unlock all other characters.

Hokages
[Submitted by: Cheat Masters ]
unlock the 1st and 2nd hokages, answer all ten questions asked by Ebisu. The third hokage can be unlocked by defeating the Heroes History mode. To unlock the fourth hokage, unlock each character in the game.

Multi-Player Characters
Description: The following characters can be unlocked rather easily in VS. mode. To select the special character, hold down the Select button while you select the normal character listed.

Butterfly Chouji	Chouji
Drunken style Lee	Lee
CS2 Jiroubou	Jiroubou
CS2 Kidoumaru	Kidoumaru
CS2 Kimimaro	Kimimaro
One-Tailed Naruto	Naruto
CS2 Sakon	Sakon
CS2 Sasuke	Sasuke
Shukaku Gaara (normal-sized)	Gaara
CS2 Tayuya	Tayuya

Characters
Description: The characters listed below can be unlocked by completing the missions listed in Story Mode.

Gaara	Chapter 2, Mission 7
Haku	Chapter 1, Mission 2
Hoshigaki Kisame	Chapter 3, Mission 8
Jiraiya	Chapter 3, Mission 9
Kankuro	Chapter 2, Mission 7
Momochi Zabuza	Chapter 1, Mission 3
Orochimaru	Chapter 2, Mission 6
Sandaime	Chapter 2, Mission 6
Shizune	Chapter 3, Mission 11
Temari	Chapter 2, Mission 7
Tsunade	Chapter 3, Mission 11
Uchiha Itachi	Chapter 3, Mission 9
Yakushi Kabuto	Chapter 3, Mission 10

Characters (More)
Description: Here is a list of characters you can unlock

Anbu Kakashi	Finish Ultimate Road
Anko Mitarashi	Beat her in Ultimate Road
Asuma Sarutobi	Beat him in Ultimate Road
Hanabi Hyuuga	Date her in Ultimate Road
Kurenai Yuhi	Beat her in Ultimate Road
Taijutsu Naruto	Finish Ultimate Road

Unlock All Characters
Description: unlock every character in the game automatically (except for Hyuuga Hanabi and 4th Hokage Yondaime)
How to unlock: Fromt the main menu, hold down R1 and R2 together, and press Square, Triangle, Square, Triangle. Now, press and hold down together L1 and L2, pressing Right, Up, Right, Up. Finally, press L3 and R3 (analog sticks) together. If done right, a sound will chime, and the characters will be unlocked for use.