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      <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 Index 2045 Fund</seriesName>
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      <seriesLei>5493008PJL0KD1IFMX09</seriesLei>
      <repPdEnd>2025-12-31</repPdEnd>
      <repPdDate>2025-09-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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      <totLiabs>906206.93</totLiabs>
      <netAssets>10562915695.96</netAssets>
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      <assetsInvested>0.00000000</assetsInvested>
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        <name>iShares Global Infrastructure ETF</name>
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        <name>iShares US Intermediate Government Bond Index Fund/BlackRock</name>
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        <name>SMALL CAP LIFEPATH</name>
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        <name>BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES</name>
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      <invstOrSec>
        <name>iShares Core MSCI Total International Stock ETF</name>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>RUSSEL 1000 LIFEPATH</name>
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      </invstOrSec>
      <invstOrSec>
        <name>iShares US Intermediate Credit Bond Index Fund/BlackRock</name>
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      </invstOrSec>
      <invstOrSec>
        <name>iShares US Long Credit Bond Index Fund/BlackRock</name>
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        <fairValLevel>1</fairValLevel>
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        <name>iShares US Long Government Bond Index Fund/BlackRock</name>
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        <title>iShares US Long Government Bond Index Fund/BlackRock</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
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        <name>iShares 0-5 Year TIPS Bond ETF</name>
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        <balance>23228.00000000</balance>
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        <valUSD>2400846.08000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </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>2025-10-29</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>
