Three-dimensional movement is insignificant in previous Tekken games (aside from some characters having unique sidesteps and dodging maneuvers), but Tekken 3 adds emphasis on the third axis by allowing characters to sidestep in or out of the background. Tekken 3 maintains the same core fighting system and concept as its predecessors. The direct sequel, Tekken 4, was released in 2001. It was followed by Tekken Tag Tournament in 1999.

Since its release, Tekken 3 has been cited as one of the greatest video games of all time.

The game was a major hit for both arcades and consoles, selling 35,000 arcade units and 8.36 million PlayStation copies worldwide, making Tekken 3 the fifth best-selling PlayStation game. The home version includes a new beat 'em up mode called Tekken Force, and the bonus Tekken Ball mode. Tekken 3 features a largely new cast of characters, including the debut of several now-staple characters such as Jin Kazama, Ling Xiaoyu, Bryan Fury, Eddy Gordo, Hwoarang, Forest Law and Julia Chang, with a total of twenty-three characters. The game was also re-released as part of Sony's PlayStation Classic. The arcade version of the game was released in 2005 for the PlayStation 2 as part of Tekken 5 's Arcade History mode. It was released to the arcades in 1997, before being ported to the PlayStation in 1998. Tekken 3 ( 鉄拳3) is a fighting game, the third entry in the Tekken series.