Home Alone 2 was novelized by Todd Strasser and published by Scholastic in 1992 to coincide with the film. The "point" version, which has the same storyline, was also novelized by A.L. Singer. It has an ISBN of 0-590-45717-9. An audiobook version was also released read by Tim Curry (who played the concierge in the film).

As in the novelization of the first film, the McCallisters live in Oak Park, Illinois and the crooks are named as Harry Lime and Marv Murchins.

 The novel also takes place one year after the events of the first film, but the ages of Kevin and his siblings are given as being two years older than the first film.

In the beginning of the novelization, a prologue, which ends up being Marv's nightmare in prison, he and Harry sneak away from the cops and return to Kevin's house to seek revenge on Kevin. Kevin bolts into the garage with Marv and Harry in hot pursuit. Harry and Marv end up triggering extra traps that Kevin had set up in the garage. Kevin watches as Marv ends up triggering a trap where a running lawnmower falls on his head (this was a trap featured in Home Alone 3).[