Nasir-ud-din Muhammad Shah III (Persian: محمد شاه) was Sultan of Delhi from 1390 until 1394.

When Sultan Abu Bakr Shah Tughluq became ruler of the Tughlaq dynasty of the Delhi Sultanate, Muhammad Shah as his uncle was opposed to him, and struggled against Abu Bakr over the control of the throne.

Eventually Abu Bakr was defeated, and Muhammad Shah succeeded him as king, reigning from 1390 to 1394.

After Abu Bakr's defeat, Muhammad Shah imprisoned him in the fort of Meerut where he died soon after.

Muhammad Shah ruled the Delhi Sultanate for four years before his death on 20 January 1394.