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    <filerInfo>

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          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


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        <classId>C000220946</classId>
        <classId>C000220945</classId>
        <classId>C000220944</classId>
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      <regCik>0000893818</regCik>
      <regLei>5493008LW2651I1QB503</regLei>
      <regStreet1>100 Bellevue Parkway</regStreet1>
      <regCity>Wilmington</regCity>
      <regStateConditional regCountry="US" regState="US-DE"/>
      <regZipOrPostalCode>19809</regZipOrPostalCode>
      <regPhone>800-441-7762</regPhone>
      <seriesName>BlackRock LifePath ESG Index 2040 Fund</seriesName>
      <seriesId>S000069127</seriesId>
      <seriesLei>549300OU3S4UOWG85954</seriesLei>
      <repPdEnd>2025-10-31</repPdEnd>
      <repPdDate>2025-07-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
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      <totLiabs>11024243.05</totLiabs>
      <netAssets>21241495.75</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
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      <standByCommit>0.00000000</standByCommit>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares ESG Aware MSCI USA ETF</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>iShares MSCI Emerging Markets Small-Cap ETF</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>iShares MSCI EAFE Small-Cap ETF</name>
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        <title>iShares MSCI EAFE Small-Cap ETF</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>iShares ESG Aware MSCI EM ETF</name>
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        <title>iShares ESG Aware MSCI EM ETF</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Funds III</name>
        <lei>5493008LW2651I1QB503</lei>
        <title>BlackRock Cash Funds: Institutional, SL Agency Shares</title>
        <cusip>066922519</cusip>
        <identifiers>
          <isin value="US0669225197"/>
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        <valUSD>5497566.75000000</valUSD>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <cashCollateralCondition cashCollateralVal="5497566.75000000" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>iShares ESG Aware MSCI USA Small-Cap ETF</name>
        <lei>549300V3IZTYAHR0WL12</lei>
        <title>iShares ESG Aware MSCI USA Small-Cap ETF</title>
        <cusip>46435U663</cusip>
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        <name>iShares TIPS Bond ETF</name>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>iShares MSCI Canada ETF</name>
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        <title>iShares MSCI Canada ETF</title>
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        <balance>8911.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>411509.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="411325.26000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares Developed Real Estate Index Fund</name>
        <lei>549300CCO72SBIYZNP24</lei>
        <title>iShares Developed Real Estate Index Fund</title>
        <cusip>091936187</cusip>
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          <isin value="US0919361875"/>
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        <balance>91502.77000000</balance>
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        <curCd>USD</curCd>
        <valUSD>747577.64000000</valUSD>
        <pctVal>3.519420895771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>


      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>



    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-08-29</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds III</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
