<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000893818</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000022024</seriesId>
        <classId>C000082490</classId>
        <classId>C000063260</classId>
        <classId>C000063261</classId>
        <classId>C000063262</classId>
        <classId>C000088844</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>BlackRock Funds III</regName>
      <regFileNumber>811-07332</regFileNumber>
      <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 Dynamic 2050 Fund</seriesName>
      <seriesId>S000022024</seriesId>
      <seriesLei>549300NXE6O0QY579R37</seriesLei>
      <repPdEnd>2019-12-31</repPdEnd>
      <repPdDate>2019-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>114772701.8</totAssets>
      <totLiabs>5613858.27</totLiabs>
      <netAssets>109158843.53</netAssets>
      <assetsAttrMiscSec>0</assetsAttrMiscSec>
      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0</amtPayAftOneYrOther>
      <delayDeliv>0</delayDeliv>
      <standByCommit>0</standByCommit>
      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000063260" rtn1="2.64000000" rtn2="2.53000000" rtn3="3.06000000"/>
          <monthlyTotReturn classId="C000088844" rtn1="2.52000000" rtn2="2.46000000" rtn3="3.00000000"/>
          <monthlyTotReturn classId="C000063261" rtn1="2.63000000" rtn2="2.52000000" rtn3="3.13000000"/>
          <monthlyTotReturn classId="C000082490" rtn1="2.60000000" rtn2="2.49000000" rtn3="3.12000000"/>
          <monthlyTotReturn classId="C000063262" rtn1="2.62000000" rtn2="2.56000000" rtn3="3.13000000"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
        <othMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
        <othMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
      </returnInfo>
      <mon1Flow redemption="5032641.58000000" reinvestment="0.00000000" sales="9502323.02000000"/>
      <mon2Flow redemption="5269127.82000000" reinvestment="0.00000000" sales="1463503.55000000"/>
      <mon3Flow redemption="3779684.25000000" reinvestment="0.00000000" sales="2731471.88000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>MASTER INVESTMENT PORTFOLIO</name>
        <lei>5493004HQXF0DFT60U28</lei>
        <title>Lifepath Dynamic 2050 Master Portfolio</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="BlackRock Identifier" value="MIP2050-AG"/>
        </identifiers>
        <balance>5364651.62900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>114740360.00000000</valUSD>
        <pctVal>105.1132059387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</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>2020-01-27</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds III</ncom:nameOfApplicant>
      <ncom:signature>Ann Frechette</ncom:signature>
      <ncom:signerName>Ann Frechette</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
