It was just announced via an Atlus event held in Japan, along with Persona Q: Shadow of the Labyrinth [Etrian Odyssey-styled title for the 3DS], Persona 4: The Ultimax Ultra Suplex Hold [Persona 4 Arena 2], and Persona 4: Dancing All Night.
Persona 5 is scheduled for release in Japan Winter 2014 with it likely being released here in North America the following year [probably Spring 2015].
The trailer/website can be seen below:
I seriously could not be more excited for this. I'm also looking forward to the eventual figures created from this!