Mass Effect 3 will include your or at least a Shepard
Developer BioWare has explained that your character started in the first Mass Effect will carry through as the main protagonist straight through the entire trilogy up to Mass Effect 3.
Well, it’s only “your character”, if you manage to keep Commander Shepard alive. The thing is that you’ll only get to carry your Shepard on to Mass Effect 3 if you survive through Mass Effect 2.
But it’s not quite like when you let important supporting character die in the first game and they won’t ever return again in the sequels. It’s different for Shepard; as Mass Effect 2’s Project Director, Casey Hudson, claims that while it’s possible to kill Shephard in Mass Effect 2, the character will return for the third and final game in the trilogy.
“If your Shepard dies in the end of Mass Effect 2 [...] you can play Mass Effect 3 as ‘a’ Shepard – just not ‘your’ Shepard.” -Casey Hudson
To quote: “If your Shepard dies in the end of Mass Effect 2, that’s the end of him / her.
In that case, you can play Mass Effect 3 as ‘a’ Shepard – just not ‘your’ Shepard. As in real life, not being able to keep living is really the main down-side of death. So if you care about playing the next game with your character, make sure you survive this one.”
Read the full interview at IGN.
