It was led by the country's 10th Prime Minister, Joseph Lyons.

The Third Lyons ministry succeeded the Second Lyons ministry, which dissolved on 9 November 1934 after Lyons entered into a formal Coalition with Earle Page and his Country Party; the second such coalition after that of the Bruce government.

The ministry was replaced by the Fourth Lyons ministry on 29 November 1937 following the 1937 federal election.

[1] Robert Menzies, who died in 1978, was the last surviving member of the Third Lyons ministry; Menzies was also the last surviving member of the Second Lyons ministry.

Harold Thorby was the last surviving Country minister.