The Legend of Heroes: Trails of Cold Steel III is the third installment of the Erebonia Arc of the larger Trails franchise. Taking place a year and a half after the previous game, Cold Steel III follows Rean Schwarzer as he becomes an instructor of the newly formed Class VII at the Thors Military Academy. The game was developed by Nihon Falcom and was released exclusively for the PlayStation 4 in Japan on September 28, 2017, making Trails of Cold Steel III the first title Falcom created from the ground up for that generation of consoles. A direct sequel called Trails of Cold Steel IV was published a year later in 2018 which concluded the Erebonian story arc.
NIS America localized Trails of Cold Steel III instead of XSEED Games, who had published the previous games in the series, and released the title in North America on October 22, 2019. A PC port was released in Match 2020, which was created by PH3 Games, and a Nintendo Switch port developed by Engine Software was also released in June 2020.