Tasked with proving he's a real person in a court of law, Ted and his best pal John Bennett (Wahlberg) turn to attractive lawyer Amanda Seyfried for help.
The all-star cast is rounded out by Morgan Freeman, who makes an appearance as a member of Ted's legal team, and Liam Neeson.
Laddish humour and crass jokes are naturally in plentiful supply, with the trailer showing one particularly sticky situation involving a sperm donor clinic.
The raunchy comedy looks set to be every bit as successful as the first, which generated $550 million worldwide.
Before the trailer hit the net, little was known about the plot of the highly-anticipated film.
Mila Kunis - who played John's long-suffering girlfriend Lori in the first installment - is noticeably absent, perhaps leaving room for a romance to blossom between Mark and Amanda's characters.
MacFarlane returns as writer, director and star, while Alec Sulkin and Wellesley Wild will tackle the script once again.
- Daily Mail