The championship was created in 2018 when the FIA brought the GP3 Series and the FIA Formula 3 European Championship under a single umbrella. Both series had served as Formula One feeder championships; the merger aimed to streamline the single-seater ladder and avoid the duplication of two similarly-positioned categories. The resulting series adopted the Dallara F3 2019 chassis as its spec platform.
Eight teams were admitted to the championship through a tender process. ART Grand Prix, Campos Racing, Jenzer Motorsport, MP Motorsport, and Trident came from the GP3 Series side, while Carlin, Hitech Grand Prix, and Prema Racing were selected from the Formula 3 European Championship. Charouz Racing System — later renamed the Sauber Junior Team by Charouz after a partnership with Sauber Motorsport — received the final entry. HWA Racelab joined the grid following Mercedes-Benz's withdrawal from the Deutsche Tourenwagen Masters.
All cars used the Dallara F3 2019 chassis equipped with a 3.4-litre naturally-aspirated V6 engine developed by Mecachrome — the same unit that had powered the Dallara GP3/16 in the final seasons of the GP3 Series. Pirelli supplied a bespoke tyre compound, and the halo cockpit protection device was fitted to all cars, in line with Formula One and Formula 2. Each team was required to enter three cars.
A downforce restriction rule was introduced: while teams could use any rear wing configuration in practice and qualifying, stewards specified minimum and maximum permitted wing angles before each race. Use of the Drag Reduction System was unrestricted during races, removing the limit of six DRS uses that had applied in the GP3 Series.
The 2019 season ran across eight rounds, all held as Formula One support events, drawn from circuits that had appeared on the 2018 GP3 calendar. The Yas Marina Circuit round from 2018 was omitted so that drivers could contest the Macau Grand Prix, which was announced during the season as a non-championship round of the new FIA Formula 3 Championship.
Robert Shwartzman of Prema Racing dominated the title fight, winning the championship with one race remaining after three victories and six further podium finishes. He led the drivers' championship standings from the opening round, relinquishing the lead only briefly — for a single race — to his Prema teammate Jehan Daruvala. Marcus Armstrong, the third Prema driver, finished second in the championship, edging Daruvala by one point at the final round in Sochi after winning at the Hungaroring, Spa-Francorchamps, and Sochi. Daruvala, who finished third overall, took victories at Barcelona and Paul Ricard.
Prema Racing secured the inaugural teams' championship following the second Spa-Francorchamps race.
The grid contained several drivers who would later reach Formula One. Yuki Tsunoda competed with Jenzer Motorsport after winning the Japanese F4 championship as a Red Bull Junior. Liam Lawson, the reigning Toyota Racing Series champion and a Red Bull Junior, raced with MP Motorsport. Logan Sargeant — the Euroformula Open champion — drove for Carlin alongside Felipe Drugovich. Christian Lundgaard and Max Fewtrell represented the Renault Sport Academy with ART Grand Prix.
Mid-season changes included Artem Petrov departing Jenzer after the first round due to funding problems, and Alex Peroni missing the Sochi finale after sustaining fractured vertebrae in an accident at Monza. David Schumacher replaced Peroni for the season's final race.
Points were awarded to the top ten finishers in Race 1, with four additional points for pole position and two for the fastest lap if set within the top ten. Race 2 awarded points to the top eight finishers, plus two points for the fastest lap in the top ten. The Race 2 grid was determined by reversing the top eight positions from Race 1, with no pole position points awarded.
The 2019 season validated the merged series concept and established the championship as a genuine Formula One stepping stone. Robert Shwartzman progressed to Formula 2 and then to a Ferrari reserve driver role. Yuki Tsunoda reached Formula One with AlphaTauri (later RB and Racing Bulls) in 2021. Liam Lawson made his Formula One race debut in 2023 as a Red Bull substitute and joined the grid full-time in 2025.