On 13 March 2017 the FIA announced that the GP3 Series and the FIA Formula 3 European Championship would be merged into a single series. The World Motor Sport Council was selected to develop the name, logo, and identity of the new championship, revealed at FIA headquarters in Paris on 10 March 2018. FIA President Jean Todt confirmed the FIA Formula 3 Championship title in October 2018. The series debuted in 2019 at the Circuit de Barcelona-Catalunya and concluded that first season at the Sochi Autodrom.
All teams compete with a Dallara carbon-fibre monocoque chassis powered by a Mecachrome naturally-aspirated 3.4-litre V6 engine producing approximately 380 hp. Pirelli supply tyres in three dry compounds (soft, medium, hard) and one wet compound. The six-speed sequential gearbox is supplied by Hewland with electro-hydraulic paddle-shift control. The halo cockpit protection device has been standard since the series' debut in 2019. A second-generation chassis arrived from 2025 onwards. The cars reach top speeds around 300 km/h, with peak lateral acceleration of 2.6 g and braking deceleration of 1.9 g. Competing in the series costs approximately US$1.2 million per season — roughly half the cost of Formula 2.
A Formula 3 race weekend follows a three-day structure. Friday features a 45-minute free practice session and a 30-minute qualifying session. Saturday's sprint race grid is formed by reversing the top twelve qualifiers and runs for 40 minutes plus one lap. Sunday's feature race, held ahead of the Formula 1 Grand Prix, runs for 45 minutes plus one lap. Pole position earns two bonus championship points; fastest lap from a top-ten finisher earns one additional point.
The 2019 inaugural season saw Prema Racing win both the Teams' Championship and claim all three top driver positions: Robert Shwartzman as champion ahead of Marcus Armstrong and Jehan Daruvala. Prema extended their streak of consecutive titles inherited from the predecessor European Championship to seven.
The 2020 season was disrupted by the COVID-19 pandemic, eventually starting in July. Prema's Oscar Piastri won the Drivers' Championship by three points over Théo Pourchaire. The 2021 season was reduced to seven rounds with three races per round as a cost-cutting measure. Dennis Hauger took the 2021 title for Prema, while Trident ended Prema's Teams' Championship streak. Victor Martins won the 2022 Drivers' Championship for ART Grand Prix with the title decided at the final race among six mathematically eligible drivers.
In 2023, Gabriel Bortoleto won for Trident, becoming the first South American champion in the series and the first Trident driver to take the title. Trident repeated in 2024, with Leonardo Fornaroli clinching the championship at the final race despite not winning a single race all season. In 2025, Rafael Câmara gave Trident a third consecutive Drivers' title, while Campos Racing claimed the Teams' Championship at the final round.
Formula 3 has produced a steady stream of Formula One arrivals. Oscar Piastri, after winning the 2020 title, went on to win the Formula 2 Championship in 2021 and reach Formula One with McLaren in 2023. Other graduates include Logan Sargeant (Williams, 2023), Oliver Bearman (Haas, 2024), Jack Doohan (Alpine, 2024–2025), Gabriel Bortoleto (Sauber, 2025), and Kimi Antonelli (Mercedes, 2025).
The FIA Formula 3 Championship consolidated the landscape of European third-tier single-seater racing into a single, clearly defined pathway step below Formula 2. By running exclusively at Formula One venue weekends, it gives young drivers direct exposure to the atmosphere and operating demands of the sport's highest tier while competing in affordable, closely matched machinery.