Aces: Iron Eagle III is a 1992 American action film directed by John Glen, produced by Ron Samuels, and written by Kevin Alyn Elders. It is the third installment of the Iron Eagle film series, the first and only entry in the series to be given an R rating and the only entry in the series to not be directed by Sidney J. Furie. Louis Gossett Jr. reprises his role as Brigadier General Charles "Chappy" Sinclair, the only returning cast member from the previous films, starring with Rachel McLish (in her acting debut), Paul Freeman, Sonny Chiba, Horst Buchholz, Christopher Cazenove, Mitchell Ryan, and J. E. Freeman. Retired boxing champion Ray "Boom Boom" Mancini appears in a cameo role.

The film was panned by critics and grossed $2.5 million off of a reported $13.5 million budget. It was followed by a sequel in 1995, Iron Eagle on the Attack, released direct-to-video. it was the final film released by Carolco/New Line's joint venture, Seven Arts.