[c] It was also ported in 1993 by Brazilian company Tec Toy under the title Turma da Mônica em o Resgate, with the game retooled to include characters from Brazilian comic book series Monica's Gang (Turma da Mônica).

A remake developed by Lizardcube and published by DotEmu, titled Wonder Boy: The Dragon's Trap, was released in April 2017.

[6] From there, the player explores and finds items and clues needed for Wonder Boy to access different parts of Monster Land.

With gold, players can buy additional items and better equipment in shops and restore their life meter in hospitals.

[8][9] In the game, the player uses the directional pad to move Wonder Boy left or right, crouch down (only possible as Hu-Man or Lizard-Man), or to enter doors.

[6][7] He can assume other different forms throughout the game: Mouse-Man can walk on walls and ceilings designated by checkered "mouse blocks",[16] Piranha-Man can swim freely underwater and can access underwater places (such as the ship) which the other forms cannot, Lion-Man attacks enemies with his sword by slashing from directly above to directly below him allowing him to attack targets other forms cannot hit because all of them except for Lizard-Man simply thrust their sword, and Hawk-Man can fly freely in the air but takes damage if he enters water.

[19] Westone allowed Hudson Soft to publish the game provided they made no reference to the Wonder Boy series.

[20] In 1993, Tec Toy released the game in Brazil for the Master System under the title Turma da Mônica em o Resgate.

[22] The Master System version of Wonder Boy III: The Dragon's Trap was released in Europe on September 10, 2009 (2009-09-10) and in North America on November 9, 2009 (2009-11-09).

[28] It received extensive coverage in both the January and February 1990 issues of VideoGames & Computer Entertainment, featuring an overview and a walkthrough of the game.

[16][42] Various UK-based video gaming magazines gave Wonder Boy III: The Dragon's Trap significant coverage.

He praised the game's rich sound, gameplay depth, and "colorful and cartoony" graphics, which "was perfectly suited to the TurboGrafx platform".

[49] Thomas again reviewed the Master System version of Wonder Boy III: The Dragon's Trap when it was released two years later for the Virtual Console.

In this review, he compares the gameplay to Metroid – more specifically the need to gather additional equipment and abilities to advance in the game.

[6] Allgame's review of the Master System version praised the non-linear gameplay and the ability to change into different forms, saying that it "keeps things interesting and fun" and "keeps the game from getting repetitive".

[44] The editing staff from magazine Retro Gamer listed Wonder Boy III: The Dragon's Trap as one of the "Perfect Ten Games" for the Master System, calling it "the best in a long and highly convoluted myriad of multi-titled games" and "a great adventure that every Master System fan needs to own".

[50] In June 2016, indie developer Lizardcube and publisher DotEmu announced a remake of Wonder Boy III: The Dragon's Trap, simply titled Wonder Boy: The Dragon's Trap, which was released for PlayStation 4, Nintendo Switch, and Xbox One in April 2017, with a release on PC to follow in June 2017.

The game supports a different, modern visual style, but retains the same gameplay, level design and story.

[51] A spiritual successor to The Dragon's Trap, titled Monster Boy and the Cursed Kingdom, is also developed by Game Atelier and published by FDG Entertainment for PlayStation 4, Xbox One, Nintendo Switch, Google Stadia, and PC.