The Z-2 is a development on the original Z-1 design that Nasa released in 2012, which was the first major overhaul of space suits in 30 years.
The new suit was made using 3D printed panels and, with the use of laser scanners, each suit can be custom made to fit perfectly each member of the team.
Nasa said the design reflects the qualities that protect some of 'Earth's toughest creatures', and specifically includes segmented pleats at the shoulder, elbow, hip and knee.
"Each iteration of the Z-series will advance new technologies that one day will be used in a suit worn by the first humans to step foot on the Red Planet," Nasa said.
"Besides the typical fit checks and mobility evaluations, Nasa currently is planning a very comprehensive test campaign for the Z-2 suit."
These will include tests in a vacuum chamber to mimic the lack of atmosphere in space, a pool test that trains astronauts to walk and tests on a ground that imitates the rocky terrain of Mars.
The Z-2 should be ready for testing in November this year.
ILC Dover, Nasa's primary suit vendor, and Philadelphia University collaborated to create the three designs.