Two months after the release of episode 1, the Life is Strange team has announced that the next episode will be released in January 2019, though a specific date has not yet been set.
According to DONTNOD:
“[W]e can now officially say that Episode 2 will be released in January 2019, but more will be unveiled in mid December, this year. We can’t wait to reveal more about ‘Episode 2: Rules’ to you soon! We’re truly very excited to show you what we’ve been working on and what’s in store for Sean and Daniel.”