The game is similar to previous entries in the series, but includes new characters, an expanded moveset and forks within levels where you can choose which path to take. The ability to determine magic strength by charging the attack, added in Golden Axe II, has been removed
Unlike previous entries, the game features an optional boss fight and a true ending, based on your performance in the game.
By changing RAM values while the game is running, it is possible to play as any standard enemy within the game (though many will cause the game to crash when their special move is activated, or will have glitched graphics/collision values when played).
Chronos Lait (a humanoid Panther)
Broude Kragger (a male Giant)
Sarah Barn (taking the role of Tyris Flare)
Kain Grinder (taking the role of Ax Battler)
Eve (this Bird Warrior is actually a boss character, only available in VS mode)
Golden Axe III was at one point planned for a Western release, with Sega commissioning Boris Vallejo to create packaging artwork. While the piece was finished, the Western version of the game was never released, however the Japanese version's artwork is "inspired" by Vallejo's work.